Mastercard developing fintech with Tunisian Post
The MoU was signed by Moez Chakchouk, Chairman and Chief Executive Officer, Tunisian Post and Khalid Elgibali, Division President, Middle East and North Africa, Mastercard. It builds on decades of cooperation between the two organisations and will enable the Tunisian Post to introduce innovative and safe solutions for electronic payments for the benefit of individuals and SMEs, allowing them to use financial services round-the-clock via the Tunisian Post’s electronic payment system and particularly, the prepaid e-DINAR Smart Card.
As part of the collaboration, the Tunisian Post and Mastercard will work together to facilitate greater access to digital financial services and reduce associated costs, while also enabling the Tunisian Post to contribute to a number of national projects in the field of e-government and digital management.
Khalid Elgibali, Division President, Middle East and North Africa, Mastercard, said: “Mastercard is committed to driving financial inclusion across the region and understands the significance of Public-Private Partnerships-led initiatives in the integration of citizens within the formal financial system. Our collaboration with the Tunisian Post lays the framework for the launch of new electronic payment systems, which will allow individuals, governments and the economic bodies to take advantage of the many benefits of a ‘World Beyond Cash’. Our cooperation with the Tunisian Post through this MoU represents a new step towards achieving this goal, where we will work together to develop a Mastercard prepaid program for all government disbursements through the Tunisian Post to add 1 million new beneficiaries, including Health Reimbursement, Student Scholarship, Retirement Pension and Micro-loans.”
Moez Chakchouk, Chairman and Chief Executive Officer, Tunisian Post, added: “The Tunisian Post has adopted a strategy that relies on social and financial inclusion through the development of new digital financial services, based mainly on mobile payment technologies and programs that are in line with the needs of low-income groups. The Tunisian Post has set forth important objectives to facilitate the use and access of digital financial services by the launch of mobile application, «MobiPoste», specifically for the youth, students and SMEs and individuals who are not covered under banking services, which will further enhance our position as a leading institution dedicated to the enhancement of e-commerce and the development of digital management.”
Read the October 2016 issue of Business Review Middle East magazine