Mastercard announced a partnership with Bahrain FinTech Bay in their effort to support the development of Bahrain’s fintech industry.
Through the partnership, Mastercard and Bahrain FinTech Bay will work together to offer Bahraini startups and SMEs with educative and commercial opportunities that advance their technological capabilities and business prospects.
Mastercard has committed to hosting knowledge-sharing workshops for startups, mentoring them on current trends within the fintech space, helping them find the best suited strategic partners for their expansion, and offering them the chance to receive first-hand insights from Mastercard’s global leadership team on the latest in international payments technology.
Participating entrepreneurs will also have the opportunity to join Mastercard’s flagship award-winning program for fintechs, Mastercard Start Path. The platform accelerates startups’ paths to scalability by giving them curated access to channels and customers globally, as well as offering strategic investment.
Commenting on the partnership, J.K. Khalil, General Manager, Bahrain and Saudi Arabia, Mastercard, said:
“Bahrain today is poised to be one of the leading fintech hubs of the region, thanks to a vibrant startup culture that is complemented by strong public sector backing. As a leading global technology company, Mastercard is well suited to offering the Kingdom’s startups with both commercial and technological support.
Khalid Saad, CEO of Bahrain FinTech Bay, said:
Through this partnership, we look to further promote awareness and development of Bahrain’s FinTech and innovation ecosystem. FinTechs will also benefit firsthand from Mastercard’s Start Path platform targeting at helping them accelerate their growth.”
The partnership will also see Bahrain FinTech Bay help Mastercard achieve its strategic interests in the country by engaging Mastercard’s employees in its own fintech initiatives, facilitating networking opportunities with the country’s startup and financial leaders, and enabling access for companies that are a part of Mastercard Start Path to expansion opportunities in Bahrain.
Featured image credit: Edited from Unsplash
