Mastercard and GCS International, a leading regional fintech based in the Dominican Republic, have extended their partnership to develop and deliver digital payments solutions to underserved consumers across the Caribbean.
This partnership builds on the collaborative work already underway in the Dominican Republic and expands to include solutions in Jamaica.
The partnership will strengthen the economic growth potential in the Caribbean, providing the underserved population with a simple and secure real-time payment solution.
Financial institutions will be provided with a white label mobile wallet solution, including Mastercard prepaid cards for international use, providing end-users with innovative and enhanced payment options in line with market trends.
The initiative demonstrates how technology can be harnessed to accelerate financial inclusion and give people more control, better banking experiences and a wider range of payment choices.
During the signing of the agreement, Carlo Enrico, President of Mastercard’s Latin America and Caribbean region, said: “Mastercard is committed to delivering a digital economy that works for all. As the FinTech landscape evolves at an unprecedented speed, Mastercard provides the infrastructure and assets to help FinTechs grow and attract more people to the digital economy.
“We look forward to collaborating with the GCS International team through this next stage of growth and provide the solutions that will drive financial inclusion at scale.”
