Dubai International Financial Centre, Mastercard partner to drive digital transformation in UAE
The collaboration would provide fintech startups and established companies access to Mastercard's network and expertise and DIFC's financial ecosystem.
Dubai International Financial Centre (DIFC) is collaborating with Mastercard to drive digital transformation in the UAE through partnerships with fintech companies.
This collaboration would provide fintech startups and established companies access to Mastercard's network and expertise and DIFC's financial ecosystem, as per a report by TradeArabia News Service.
It would also create new payment solutions and digital services while enhancing existing structures.
The collaboration is along the lines of DIFC's first global venture studio called 'DIFC Launchpad', said Amnah Ajmal, Executive Vice President, Market Development, EEMEA, Mastercard.
This launchpad seeks to fast-track the growth of the country's financial ecosystem and serves as a business enabler for venture studios, helping them to set up and scale from DIFC.
The Launchpad programme, which was introduced in March, will support the launch of more than 200 new ventures; hundred of them would be scale-ups that can collectively create over 8,000 jobs and attract more than $544 million in venture capital.
The DIFC Launchpad is a part of the Dubai Economic Agenda (D33).
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Edited by Akanksha Sarma