Vantage Payment Systems (VPS), a Morocco-based payment service company, has entered into a collaboration with Mastercard (Nasdaq: MA) to improve the state of digital payments in the North African country.
According to a ReportThe collaboration will try to improve financial integration metrics in Morocco while offering a variety of rises to both parties. The partnership will see Mastercard Grow its market share in Morocco via the addition of MasterCard-labeled cards over several verticals.
A glance at the statement indicates an expansive plan to integrate MasterCard offers into local e-commerce and in the app Payments for consumers. Mastercard will exploit VPS’s local infrastructure and trade conditions to deepen its footprint Morocco.
On the back, VPS will reap the reward for brand’s credibility from its Mastercard partnership. Payment institution, licensed by Bank Al-Maghrib, tipped to have access to Mastercards cyber security and assessment tools for fraud.
Both parties confirm plans to launch joint offers for the local market with a blockchain-based tokenization Product at the top of the pile. The collaboration will also start support for Digital wallets While adapting the local fintech scene with international best practice.
“This collaboration with Mastercard marks a significant milestone in our mission to digitally transform the payment landscape in Morocco,” said VPS President Ali Betahi.
The largest winner from the MasterCard-VPS partnership is the local payment scene in Morocco. With broader payment options that extend over physical and digital tools, merchants and consumers can shop seamlessly.
Morocco has made significant progress in the pursuit of digitization and is aimed at new technologies to improve local payments. The country is heated against digital assets and loses new legislation to reverse its seven -year digital currency ban.
Africa includes new payments techniques
Africa’s payment landscape is transformed, with leading economies that switch to new technologies. A MasterCard Report Predicts that digital payments in Africa will increase to $ 1.5 trillion at the end of the decade, but warns of a nail in fraudulent transactions.
Conversely, African cross -border transactions Powered by digital payment systems is expected to grow with a two-digit composed annual growth rate (CAGR) by 2030. The essence of the changes is a driving force to improve local economic inclusion metrics for non-banked and sub-banked individuals.
Digital assets in Latin America climb 40%
In second news has a new chain analysis report marked The growth of digital asset -based transfers to Latin America in a trend driven by various factors.
Digital currency -based transfers Has nailed by over 40% over the past 12 months. The report, a collaboration effort between chain analysis and the Australian transaction report and the analysis center (Austrac), mentions Stablecoins as the main driving force.
Stablecoin adoption has grown with leaps in Latin America from a niche supply class to mainstream acceptance. The growth metrics around Stablecoins in Latin America lie in their usability and provide a crucial lifeline for struggling economies in the region.
Latin American countries turn to Stablecoins to fight inflation and currency devaluation, with Brazil and Argentina recording the biggest numbers. Apart from using Stablecoins to secure their wealth, residents in the region of the asset class’s broad payment functions are drawn.
At the top of the list is the speed of cross -border payments With Stablecoins, with the exception of traditional challenges associated with transfers. Another reason behind the power of Stablecoin measurement values is the US’s warm embrace against the asset class, with the White House which promises that stable stables to protect sovereignty in the US dollar.
Without steady access to physical dollars, investors stack into Stablecoins to solve their cross -border transaction challenges.
The increase in digital supply machines is another growth driver for cross -border transfers in Latin America. According to a report, Latin America has experienced a regional boom in digital asset machines and snagging some of the global market value.
Less technical knowledgeable individuals turn to digital asset machines to circumvent third parties and their steep fees for cross -border transactions. Mexico, Panama, Colombia and Argentina record the most important growth for cross -border transactions through digital asset machines.
Latin America is prepared to contribute to global digital payment metrics
Latin America puts its mark in digital payment metrics and rises from the lowest to becoming the fastest growing region. Several government factors support their growth, with Brazil’s pix that turns to Automated payments To shave another $ 30 billion in transaction volume.
In addition, Latin America focuses on regional and Global partnership To trigger a growth spurt for digital payments. Peru has ink with a deal To introduce India’s uniform payment interface (UPI) into its payment ecosystem.
Watch: Small relaxed payments convert content Creation Business
https://www.youtube.com/watch?v=baosiym0Hng Title = “Youtube video player” Ramborder = “0” Allow = “Accelerometer; Autoplay; Clipboard Writing; Encrypted Media; Gyroscope; Image-in-Ib Picture; Web Dividend” Reference Policy = “Strict-Origin-When-Cross-Origin” Allowing Lorscreen = “>”