Mastercard, Payment24 Collaborate on EEMEA’s Fleet Sector
CHIGOZIE AMADI
Mastercard and Payment24 are extending their engagement across Eastern Europe, Middle East and Africa (EEMEA) to help bolster security and drive innovation within the fleet and fuel payment industry across the region.
The EMV standard, now being implemented in over 80 markets, has dramatically reduced the incidence of counterfeit card fraud associated with magnetic strip cards, saving hundreds of millions in potential losses.
Senior Vice President of Commercial Solutions, EEMEA at Mastercard, Clyde Rosanowski, said: “By combining Mastercard’s leading payment technology with Payment24’s innovative and proven fuel payments platform, we deliver a solution for the region that enhances security and adds significant value and convenience for customers.”
Joint CEO of Payment24, Shadab Rahil, said: “We are exceptionally proud of how our partnership with Mastercard has developed. The expansion of this alliance to EEMEA highlights the urgent need to get ahead of fraud in the fleet and fuel payments industry. We believe that our combined offering will help customers in the banking industry to better mitigate risks associated with legacy technologies while enhancing transparency and flexibility.”
Joint CEO at Payment24, Nolan Daniel, said: “Our deep understanding and tailor-made fuel and fleet technologies go beyond providing secure EMV cards. We deliver mobile payments, windshield tags for identification, and real-time tracking of vehicles and fuel via telematics, all integrated within a dedicated vehicle and fleet management platform. This allows customers to monitor fuel expenses and consumption and actively detect and prevent potential fraud.”
