Latest news with #EEMEA
Finextra
12 hours ago
- Business
- Finextra
Mastercard collaborates with enza to boost fintech innovation across Africa
Mastercard and enza – a payment solutions company – have collaborated to connect fintech companies across Africa to the Mastercard network. This collaboration will enable fintech players to build propositions on the enza platform that serve both consumers and businesses with embedded Mastercard payment solutions capabilities. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. According to a report by the European Investment Bank, the number of fintech companies in Africa has nearly tripled since 2020. Many of these innovators focus on embedding payment services into broader solutions that tackle financial access, offering alternatives to legacy systems that often have a high cost to serve. Fintech companies in Africa will now be able to easily access the full suite of Mastercard services. The collaboration aims to reduce complexity and speed up time to market for emerging players building digital financial solutions across the continent. 'At Mastercard, we are focused on powering the fintech ecosystem by enabling access to our trusted global network. Through our work with enza, fintech innovators in Africa will be able to deploy embedded payment capabilities more efficiently – helping accelerate financial inclusion and the region's digital transformation,' said Mete Guney, executive vice president, Market Development, EEMEA, Mastercard. As part of the agreement, enza will host consumer and merchant accounts, manage integration with Mastercard's network, and ensure high levels of security and system availability. Fintech companies can configure pre-paid or post-paid accounts, and issue physical or virtual Mastercard cards. For businesses, enza will enable acceptance of Mastercard payments across in-store, online and in-app channels. 'enza is on a mission to make digital payments more accessible and affordable across Africa, helping to build a more financially inclusive continent that is ready and able to compete globally. Our collaboration with Mastercard leverages our existing relationship to more effectively serve the fintech community. Together, we will provide innovators with a platform capability that means they do not need to build this aspect of their proposition and can get to market with greater speed and security,' said Andrew Key, Executive Director, enza. Founded in 2023, enza is headquartered in Abu Dhabi, with regional offices in Egypt, South Africa and Nigeria. The company's innovative payment infrastructure delivers the flexibility and agility needed to increase competitiveness, capitalize on new markets and develop new revenue streams through better serving consumer and business customers across Africa.
Al Bawaba
2 days ago
- Business
- Al Bawaba
Mastercard and enza collaborate to enable fintech innovation across Africa
Mastercard and enza – a payment solutions company – have collaborated to connect fintech companies across Africa to the Mastercard network. This collaboration will enable fintech players to build propositions on the enza platform that serve both consumers and businesses with embedded Mastercard payment solutions to a report by the European Investment Bank, the number of fintech companies in Africa has nearly tripled since 2020. Many of these innovators focus on embedding payment services into broader solutions that tackle financial access, offering alternatives to legacy systems that often have a high cost to companies in Africa will now be able to easily access the full suite of Mastercard services. The collaboration aims to reduce complexity and speed up time to market for emerging players building digital financial solutions across the continent.'At Mastercard, we are focused on powering the fintech ecosystem by enabling access to our trusted global network. Through our work with enza, fintech innovators in Africa will be able to deploy embedded payment capabilities more efficiently – helping accelerate financial inclusion and the region's digital transformation,' said Mete Guney, executive vice president, Market Development, EEMEA, part of the agreement, enza will host consumer and merchant accounts, manage integration with Mastercard's network, and ensure high levels of security and system availability. Fintech companies can configure pre-paid or post-paid accounts, and issue physical or virtual Mastercard cards. For businesses, enza will enable acceptance of Mastercard payments across in-store, online and in-app channels.'enza is on a mission to make digital payments more accessible and affordable across Africa, helping to build a more financially inclusive continent that is ready and able to compete collaboration with Mastercard leverages our existing relationship to more effectively serve the fintech community. Together, we will provide innovators with a platform capability that means they do not need to build this aspect of their proposition and can get to market with greater speed and security,' said Andrew Key, Executive Director, enza. Founded in 2023, enza is headquartered in Abu Dhabi, with regional offices in Egypt, South Africa and Nigeria. The company's innovative payment infrastructure delivers the flexibility and agility needed to increase competitiveness, capitalize on new markets and develop new revenue streams through better serving consumer and business customers across Africa.
Tahya Masr
15-05-2025
- Business
- Tahya Masr
Wellness, nature and food drive 2025 travel trends in EEMEA, according to Mastercard Economics Institute
The Mastercard Economics Institute (MEI) today released Travel Trends 2025, its annual report with unique and proprietary consumer spending insights globally. While exchange rates and geopolitical dynamics can influence consumer behavior, the report highlights that passions and purpose-driven motivations remain strong drivers shaping the travel industry. Whether drawn by Namibia's wellness retreats, Istanbul's dynamic culinary scene, or Saudi Arabia's emerging leisure hubs, travelers are expanding their horizons beyond traditional hotspots. The globalization of sports has also turned big events into global spending hubs, drawing fans across continents. 'Tourism remains an important driver for growth and diversification in the EEMEA region, and it's great to see that the natural beauty, culinary variety and special experiences across Africa, the Middle East and Eastern Europe, are held in such high regard by travelers. And while economic and geopolitical drivers do impact the decision of where to go, the desire for meaningful experiences still drives a big part of our travel decisions. The tourism landscape in the EEMEA region is evolving, with emerging destinations attracting investment and powering spending. The Mastercard Economic Institute's report offers interesting insights on how countries are capturing the attention of eager travelers looking for something more than just a change of scene,' said Khatija Haque, chief economist EEMEA, Mastercard Economics Institute . Drawing on a unique analysis of aggregated and anonymized transaction data and third-party data sources, the report uncovers what is shaping travel choices today. Key findings for EEMEA region include: Eastern Europe, Middle East and Africa (EEMEA) trends: • Nature-fueled adventures: MEI analyzed major national parks on how commerce in the area is contributing to overall tourist expenditures. Established wilderness giants such as South Africa and Zambia show the highest national park spending as a share of total cross-border, 23.3% and 15.5% in 2024, respectively[2]. • Culinary crossroads: Istanbul tops the list of globalized foodie cities with its median restaurant hosting tourists from 67 different countries in 2024. Doha, Dubai, Marrakech and Cape Town are also on the list with diverse culinary experiences alongside their rich cultural attractions. • Wellness in the wild: Africa is establishing itself as a global leader in wellness-centered travel as consumers prioritize rejuvenation and self-care. The Wellness Travel Index (WTI)[3], developed by MEI to highlight destinations leading the way for wellness experiences and self-care , has Namibia, South Africa, and Botswana among the top destinations for travelers seeking spa-style and nature-based retreats and immersive eco lodges. The rising WTI score for Kenya suggests a growing effort in the destination to meet this popular demand. • Top regional hotspots: Recent reforms made it easier to travel to Saudi Arabia which spurred a rise in passenger traffic to Jeddah and Riyadh. The government's economic diversification efforts have also attracted newcomers: Investment in massive projects has created jobs and boosted business travel, while the development of tourism and leisure infrastructure is turning the kingdom into an emerging leisure destination. • Wheeling and dealing closer to home: In general, business travellers favour trips within their own regions, driven by hybrid work models and geopolitical uncertainty. However, there are exceptions, with UK businesses spending a growing share of their travel budgets in Eastern Europe, the Middle East and Africa (EEMEA) at the expense of trips within their region , Other global trends: Sports fandom fuels travel. MEI examined spending within five miles of the venue for the Champions League Final in London. Real Madrid's victory over Borussia Dortmund led to a 61% YOY increase in German spending, outpacing the overall increase of 14%, whereas Spanish spending spiked by 148% YOY, suggesting fans celebrated by splurging. • Currency changes can impact travel, but it varies regionally. In 2024, currency depreciation drove visitors in search of value to Japan, where a 1% JPY depreciation against the RMB led to a 1.5% increase in Chinese Mainland tourists. However, visitors from New Zealand and the U.S. rose only around 0.2% in response to the same degree of depreciation relative to their currencies. Mastercard is dedicated to helping the global tourism sector grow through market analysis and high-frequency, data-driven insights that enhance the travel experience. By empowering destinations and businesses to better understand evolving consumer trends, Mastercard is helping to shape a more connected and resilient future for travel across Eastern Europe, the Middle East, and Africa. You can view the full 'Travel Trends 2025: Purpose-driven journeys' and other reports and insights from MEI, here .
Arabian Business
13-05-2025
- Business
- Arabian Business
2025 travel trends: Nature, food and wellness drive holiday spending says Mastercard
Nature, food and wellness breaks are driving holiday spending, according to the Mastercard Economics Institute's (MEI) annual Travel Trends 2025 report. While exchange rates and geopolitical dynamics can influence consumer behaviour, the report highlights that passions and purpose-driven motivations remain strong drivers shaping the travel industry. Whether drawn by Namibia's wellness retreats, Istanbul's dynamic culinary scene, or Saudi Arabia's emerging leisure hubs, travellers are expanding their horizons beyond traditional hotspots, said Mastercard. Travel trends 2025 The globalisation of sports has also turned big events into global spending hubs, drawing fans across continents. Khatija Haque, chief economist EEMEA, Mastercard Economics Institute, said: 'Tourism remains an important driver for growth and diversification in the EEMEA region, and it's great to see that the natural beauty, culinary variety and special experiences across Africa, the Middle East and Eastern Europe, are held in such high regard by travellers. 'While economic and geopolitical drivers do impact the decision of where to go, the desire for meaningful experiences still drives a big part of our travel decisions. 'The tourism landscape in the EEMEA region is evolving, with emerging destinations attracting investment and powering spending'. Key findings for Eastern Europe, Middle East and Africa (EEMEA) include: Nature-fuelled adventures: MEI analysed major national parks on how commerce in the area is contributing to overall tourist expenditures. Established wilderness giants such as South Africa and Zambia show the highest national park spending as a share of total cross-border, 23.3 per cent and 15.5 per cent in 2024, respectively Culinary crossroads: Istanbul tops the list of globalised foodie cities with its median restaurant hosting tourists from 67 different countries in 2024. Doha, Dubai, Marrakech and Cape Town are also on the list with diverse culinary experiences alongside their rich cultural attractions Wellness in the wild: Africa is establishing itself as a global leader in wellness-centred travel as consumers prioritise rejuvenation and self-care. The Wellness Travel Index, developed by MEI to highlight destinations leading the way for wellness experiences and self-care, has Namibia, South Africa, and Botswana among the top destinations for travellers seeking spa-style and nature-based retreats and immersive eco lodges. The rising WTI score for Kenya suggests a growing effort in the destination to meet this popular demand Top regional hotspots: Recent reforms made it easier to travel to Saudi Arabia which spurred a rise in passenger traffic to Jeddah and Riyadh. The government's economic diversification efforts have also attracted newcomers Investment in massive projects has created jobs and boosted business travel, while the development of tourism and leisure infrastructure is turning the kingdom into an emerging leisure destination Wheeling and dealing closer to home: In general, business travellers favour trips within their own regions, driven by hybrid work models and geopolitical uncertainty. However, there are exceptions, with UK businesses spending a growing share of their travel budgets in Eastern Europe, the Middle East and Africa (EEMEA) at the expense of trips within their region Global travel trends identified my Mastercard, include Sports fandom fuels travel. MEI examined spending within five miles of the venue for the Champions League Final in London. Real Madrid's victory over Borussia Dortmund led to a 61 per cent YOY increase in German spending, outpacing the overall increase of 14 per cent, whereas Spanish spending spiked by 148 per cent YOY, suggesting fans celebrated by splurging Currency changes can impact travel, but it varies regionally. In 2024, currency depreciation drove visitors in search of value to Japan, where a 1 per cent JPY depreciation against the RMB led to a 1.5 per cent increase in Chinese Mainland tourists. However, visitors from New Zealand and the US rose only around 0.2 per cent in response to the same degree of depreciation relative to their currencies
Trade Arabia
13-05-2025
- Business
- Trade Arabia
Wellness, nature, food drive 2025 travel trends in EEMEA: MEI
The Mastercard Economics Institute (MEI) has released Travel Trends 2025, providing global consumer spending insights. The report highlights that passions and purpose-driven motivations remain key drivers in the travel industry. Travellers are exploring wellness retreats, culinary scene in Istanbul, and leisure hubs in Saudi Arabia. The globalisation of sports has also transformed sports events into global spending hubs. 'Tourism remains an important driver for growth and diversification in the EEMEA region, and it's great to see that the natural beauty, culinary variety and special experiences across Africa, the Middle East and Eastern Europe, are held in such high regard by travellers. And while economic and geopolitical drivers do impact the decision of where to go, the desire for meaningful experiences still drives a big part of our travel decisions. The tourism landscape in the EEMEA region is evolving, with emerging destinations attracting investment and powering spending. The Mastercard Economic Institute's report offers interesting insights on how countries are capturing the attention of eager travellers looking for something more than just a change of scene,' said Khatija Haque, chief economist EEMEA, Mastercard Economics Institute. KEY FINDINGS FOR EEMEA REGION INCLUDE: Nature-fueled adventures: MEI analysed major national parks on how commerce in the area is contributing to overall tourist expenditures. Established wilderness giants such as South Africa and Zambia show the highest national park spending as a share of total cross-border, 23.3% and 15.5% in 2024, respectively. Culinary crossroads: Istanbul tops the list of globalised foodie cities with its median restaurant hosting tourists from 67 different countries in 2024. Doha, Dubai, Marrakech and Cape Town are also on the list with diverse culinary experiences alongside their rich cultural attractions. Wellness in the wild: Africa is establishing itself as a global leader in wellness-centered travel as consumers prioritise rejuvenation and self-care. The Wellness Travel Index (WTI), developed by MEI to highlight destinations leading the way for wellness experiences and self-care , has Namibia, South Africa, and Botswana among the top destinations for travellers seeking spa-style and nature-based retreats and immersive eco lodges. The rising WTI score for Kenya suggests a growing effort in the destination to meet this popular demand. Top regional hotspots: Recent reforms made it easier to travel to Saudi Arabia which spurred a rise in passenger traffic to Jeddah and Riyadh. The government's economic diversification efforts have also attracted newcomers: Investment in massive projects has created jobs and boosted business travel, while the development of tourism and leisure infrastructure is turning the kingdom into an emerging leisure destination. Wheeling and dealing closer to home: In general, business travellers favour trips within their own regions, driven by hybrid work models and geopolitical uncertainty. However, there are exceptions, with UK businesses spending a growing share of their travel budgets in Eastern Europe, the Middle East and Africa (EEMEA) at the expense of trips within their region. OTHER GLOBAL TRENDS: Sports fandom fuels travel: MEI examined spending within five miles of the venue for the Champions League Final in London. Real Madrid's victory over Borussia Dortmund led to a 61% YOY increase in German spending, outpacing the overall increase of 14%, whereas Spanish spending spiked by 148% YOY, suggesting fans celebrated by splurging.
