Mastercard has launched a digital payments-focused partnership with Türkiye-based FinTech company Dgpays.
The collaboration is aimed at promoting the adoption of digital payment solutions for consumers and businesses in Eastern Europe, the Middle East and Africa (EEMEA), per a Wednesday (Dec. 18) news release.
As part of the partnership, Mastercard and Dgpays will develop payment technologies and loyalty solutions designed for needs of markets across the region. Mastercard will also make a minority investment in Dgpays, the release added.
The focus of the effort will be on streamlining access to digital payments, ensuring secure and practical solutions to improve convenience and build trust among consumers and businesses.
“By combining Mastercard’s global network with Dgpays’ local expertise, we are creating a platform for innovation that will transform how payments are made and experienced across the EEMEA region,” said Dimitrios Dosis, Mastercard’s president for the region.
“We extend our sincere thanks to the Investment Office of the Presidency of the Republic of Türkiye for their valuable support in making this collaboration possible.”
The partnership follows a recent collaboration between Mastercard and Equifax designed to provide fraud management tools to businesses in Latin America (excluding Brazil).
The companies will offer these tools to financial institutions, payment service providers, acquiring banks and merchants in the region via Equifax’s Kount Payment Fraud solution, providing identity verification, fraud risk assessment, order validation and alerting services.
In other digital payments news, PYMNTS wrote Wednesday about a challenge facing the industry: enhancing user experience while fighting sophisticated fraud.
“There’s a lot of emphasis on doing things as frictionless as possible,” Sunny Thakkar, head of global fraud, disputes and authentication products at Worldpay, told PYMNTS during an interview for the “What’s Next in Payments: The Payments Circle of Trust and Risk” series.
“People have become used to really instant payments,” Thakkar said, adding that risk management historically required deliberate processes to secure accuracy. “The challenge is maintaining a fast user experience while managing the inherent risks of eCommerce.”
Technological advancements are key to this effort, that report said. By tapping passive signals like device information, geolocation and behavioral biometrics, companies can develop risk models without saddling users with excessive verification steps.
These innovations not only bolster security but also meet consumers’ expectations for frictionless transactions, Thakkar told PYMNTS.
