SPENN and Mastercard join forces to boost digital inclusion in Africa

Partnership with MasterCard will connect SPENN Mobile Wallet users to a global online marketplace, allowing them to make secure e-commerce payments

Investor News 9/22

SPENN and MasterCard today announced a strategic partnership that will enable SPENN Mobile Wallet users – even those without a bank account – to make safe and seamless digital payments on the MasterCard network, including international e-commerce transactions.

As part of this agreement, SPENN will launch a MasterCard virtual card, offering its Mobile Wallet App customers new ways to access and pay for products and services at the millions of e-commerce merchants who accept MasterCard.

With a MasterCard virtual (non-plastic) payment solution linked to SPENN Mobile Money wallets, consumers and small businesses can make payments to local and global online brands and can pay on over 15,000 Kazang devices by Zambia. This means that e-commerce transactions can be performed instantly through mobile wallets for a wide variety of payments, including travel, entertainment subscription services and bill payments, while ensuring that customer financial data are always secure and private.

“We are extremely proud to be associated with MasterCard. To have a world-leading payment technology company bestow such recognition on SPENN is both thrilling and humbling,” said Jens Glaso, CEO of SPENN Technology. “The partnership also supports SPENN’s strategy to enable more efficient and transparent online payments, thereby strengthening financial inclusion.”

This partnership will help MasterCard advancing its global commitment to financial inclusion and committing to bringing a total of 1 billion people, 50 million micro and small enterprises and 25 million women entrepreneurs into the digital economy by 2025.

Vincent Malekanicountry manager for Zambia and Malawi at MasterCard, said, “We are delighted to partner with SPENN to provide more secure and seamless payment experiences for their customers. Fintechs play a critical role in enabling the digital economy and are therefore a critical partner for us to drive the financial inclusion agenda forward.

The SPENN-Mastercard virtual card will be rolled out in 2023, initially in Zambia then in other African markets, including Rwanda, Tanzaniaand Nigeria.

SPENN’s relationship with MasterCard began in 2021 when SPENN Technology entered and won the Mastercard Lighthouse MASSIV program. A year later, SPENN was selected to participate in Start Path Crypto, Mastercard’s blockchain-focused startup engagement program, providing access to partnership opportunities, insights, and tools to grow.

About SPENN
SPENN Technology A/S (Limited) is a fintech company providing digital banking and payment services through its Software-as-a-Service (SaaS) solution, the SPENN Platform. SPENN is an advanced blockchain-powered financial platform that promotes financial inclusion through premium mobile banking apps and business empowerment through payment solutions. SPENN Technology A/S is listed on the Nasdaq First North Growth Market in Denmark.

About MasterCard (NYSE: MA)
MasterCard is a global technology company in the payments industry. Our mission is to connect and power an inclusive digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside our company. With connections in more than 210 countries and territories, we are building a sustainable world that unlocks invaluable opportunity for all. www.mastercard.com.

For more information, please contact:
Jens B. Glaso, CEO of SPENN Technology A/S. Telephone +47 40 40 47 50, e-mail: [email protected]
Mastercard: [email protected]
Certified Advisor: Baker Tilly Corporate Finance P/S, Att. : Gert Mortensen, Partner. Telephone: +45 33 45 10 00, www.bakertilly.dk

SPENN Technology A/S
CVR No.: 26518199
Njalsgade 76, 4.
2300 Copenhagen S
Tel: +45 8830 0000
www.spenn.com

About SPENN Technology A/S

In a world where 1.7 billion people are still unbanked, SPENN Technology has democratized access to financial markets by linking the crypto sphere with traditional finance. Using blockchain technology, Blockbonds has created a robust real-time payment system where anyone can manage their savings, payments, investments, and loans honestly, transparently, and securely through the SPENN App platform. Although SPENN Technology A/S is a goal-oriented company with our vision of empowering people, we are also a business player always striving to develop new services for our customers.

The SPENN app is an innovative and unique digital banking platform for unbanked and banked people to be able to send and receive money completely free of charge, in markets with the highest cost of financial services in the world. SPENN disrupts existing mobile payment distribution channels. SPENN recently launched new services integrated into the platform and plans to launch more crypto services in the future.

SPENN is a technology provider for banks and governments based on Software as a Service (SaaS) solution and has become a key partner for their banking partners to boost deposits and stay at the forefront of innovation . SPENN helps governments regulate the unregulated using new technologies and visionary ideas that have finally solved the biggest problem of financial inclusion.

SPENN Technology A/S is listed on Nasdaq First North Growth Market Denmark. Mnemonic code: SPENN

© Ritzau Denmark, source Ritzau English Regulatory Notices

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