Mastercard Expands Digital Services Through Engage Partner Network

Mastercard has added seven technology providers to its Engage partner network.

Through the Engage network — which already included 150 partners — Mastercard connects businesses with qualified FinTechs and service providers that can deploy digital solutions at scale while leveraging the Mastercard Installments program, Mastercard said in a Wednesday (Dec. 7) press release.

The latest providers to join the Engage partner network are Amount, Canopy, Galileo, Jifiti, LiftForward, Paywallet and Peach Finance.

“The Mastercard Installments program taps the power and scale of the Mastercard network to instantly support secure installment payments at checkout, both in-store and online, and enables more choice for consumers,” Mastercard Executive Vice President of FinTech & Segment Solutions Blake Rosenthal said in the release. “To increase speed to market for Mastercard Installment solutions, customers can easily access the Engage directory of agile, qualified technology providers that meet their specifications for product capabilities, geographies and more.”

Technology providers in the Engage partner network can offer credit decisioning, instant issuance, fraud management, loan servicing and other new and innovative capabilities that can be added through Mastercard Installments. They can also build and deploy them quickly and easily, according to the press release.

Mastercard Installments — which enables banks, lenders, FinTechs and wallets to offer buy now, pay later (BNPL) experiences at checkout — meets the demand from both consumers and small businesses for installment solutions and is gaining traction with global partners, the release said.

For example, in July, Mastercard Installments added as partners HSBC, J.P. Morgan and NatWest in the United Kingdom; Cross River, Evolve Bank & Trust, Jifiti, Live Oak Bank, MOCA Financial and WebBank in the United States, and Saudi National Bank in Saudi Arabia.

As of July 28, the Mastercard Installments program leverages Mastercard’s global acceptance network of more than 90 million merchants.