PURCHASE, N.Y.—Mastercard is entering into a partnership with Samsung to enable digital access to consumers and small businesses in emerging markets through its Pay on Demand platform.
The platform will be launched in the Middle East and Africa region in early 2020 and extend to additional regions later, Alpha reported.
The Pay on Demand platform includes: a lending marketplace that provide consumers with affordable device financing from lenders; Samsung's Knox security platform to ensure safety of consumer data; tools for consumers to analyze and build their credit history from usage data; and, in partnership with telcos, an opportunity for consumers to obtain virtual card numbers that can be used to pay for their device and for other transactions, Alpha said.