Mastercard, Payment24 Partner to Promote EMV Adoption: EEMEA
are expanding their collaboration across Eastern Europe, the Middle East, and Africa- EEMEA to enhance security and foster innovation within the fleet and fuel payment industry throughout the region.The EMV standard Europay, MasterCard® and Visa® – Europay, now implemented in over 80 markets, has significantly decreased counterfeit card fraud associated with magnetic strip cards, resulting in potential savings of hundreds of millions.
This partnership not only promotes innovation in the fleet and fuel payments sector but also aims to accelerate the transition to the secure EMV standard and assist fleet operators in mitigating the risk of fraud linked to magnetic strip fleet cards.This extended collaboration broadens the geographical reach of a proven solution, providing modern fleet and fuel payment solutions to banks and fleet card issuers across the region.
Senior Vice President for Commercial Solutions, EEMEA at Mastercard Clyde Rosanowski, says, “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.”
Thanks to the partnership, customers will have access to a comprehensive Fleet Management solution, enabling them to quickly deploy and expand their secure fleet and fuel payment services. The solution is tailored to provide a range of EMV-based payment products and encompasses various modern payment methods, such as tokenized tags, e-wallets, and vouchers, all integrated into the Payment24 platform.
Joint CEO for Payment24, Nolan Daniel, says, “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.
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