9th December 2021 - 2 min read
Boost has announced a partnership with Mastercard to expand its range of innovative payment solutions and offer better convenience to its users. This includes the introduction of a Mastercard prepaid card, among various other solutions.
According to Boost, the Mastercard prepaid card will complement existing offerings that are already being provided via its Boost e-wallet. Specifically, users will soon be able to use the prepaid card to make seamless and convenient payments at any physical merchants that accept Mastercard, both locally and globally. Boost did not, however, share specific details on when it will roll out the card.
Aside from that, the Boost-Mastercard partnership also seeks to enhance the services that are currently offered to micro as well as small and medium enterprises (SMEs and MSMEs) through the Boost Biz and Boost Credit platforms. It will see the launch of new SME financial products to assist this segment of the market. Additionally, Boost will be allowed to tap into Mastercard’s technology to further expand its fintech and payment offerings across the South Asian region.
The chief executive officer of Boost, Sheyantha Abeykoon said that this “multi-faceted partnership” is an exciting step to take for the company. “Drawing on Mastercard’s global expertise and technology, and coupled with our wide spectrum of fintech solutions, we are excited to reimagine what’s possible for our local and regional customers and merchants as we navigate a rapidly changing digital landscape,” he said.
Meanwhile, the division president of Southeast Asia emerging markets for Mastercard, Safdar Khan said that Mastercard is delighted to help Boost bolster its existing range of products and services to benefit its users. “As we collectively work towards creating more cashless, and digitally inclusive economies, partnerships at all levels of the ecosystem will be necessary to ensure that we reach as many people as possible,” he said.
Boost is not the only e-wallet that is looking to enhance its services by partnering with digital payment service providers to offer a prepaid card. In October, Touch ‘n Go eWallet had also announced that it is teaming up with Visa to introduce a TNG Visa prepaid card that is tied to the eWallet, while Kiple was the most recent e-wallet player to launch a prepaid card.
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