Mastercard and Payment24 Expand Partnership to Enhance Fleet Payment Security in EEMEA

Mastercard and Payment24 extend their partnership to improve security and innovation in fleet payments across EEMEA.

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.

This partnership not only drives innovation in the fleet and fuel payments sector, but also aims to speed up the transition to the secure EMV standard and help fleet operators reduce the risk of fraud associated with magnetic strip fleet cards.

This expanded collaboration extends the geographical reach of a proven solution and delivers modern fleet and fuel payment solutions to banks and fleet card issuers throughout the region. While drivers benefit from a quick, secure, and seamless way to make payments, fleet operators can now monitor driver spending in real-time, set expense limits, and minimise the need for cash.

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.

Clyde Rosanowski, Senior Vice President of Commercial Solutions, EEMEA, Mastercard

Through the partnership, customers will be able to take advantage of an end-to-end Fleet Management solution to help them rapidly deploy and scale their own secure fleet and fuel payment offerings. The offering is designed to deliver a suite of EMV-based payment products and extends to a host of modern payment mechanisms, including tokenized tags, e-wallets and vouchers that are all native to the Payment24 platform. 

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.

Shadab Rahil, Joint CEO, Payment24

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.

Nolan Daniel, Joint CEO, Payment24

Customers across the region can now be rest assured that each transaction is protected by Mastercard’s multiple security layers, fraud prevention technologies, dispute processes and underpinned by Payment24’s technical knowledge and in-depth understanding of fuel payment technologies.

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