Global technology company in the payments industry, Mastercard has said that Nigeria has solidified its position as a fintech powerhouse in the African continent in 2022, maintaining its position as the region’s best-funded country with an impressive 180 startups securing funding, far surpassing its African counterparts.
Projecting that the future of the fintech ecosystem lies in embedded solutions, Mastercard called for more support for the ecosystem.
The firm said Fintech companies have been at the forefront of revolutionizing various industries, enabling financial inclusion, and fostering innovative partnerships between financial institutions, governments, merchants, and small and medium-sized enterprises , both globally and locally. On his part, Elliot, who is in Nigeria visiting Mastercard partners and business associates, highlighted that the future of fintech is in embedded solutions that meet people where they are, new digital banking solutions for small businesses that support their growth, and fintechs focused on sustainability and financial inclusion.
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