MASRIA DIGITAL PAYMENTS
“ WHEN THE REVOLUTION HAPPENED , WE SAW ONE AREA OF BUSINESS THAT WAS UNAFFECTED , WHICH WAS FINANCIAL SERVICES ”
AHMED NAFIE CEO , MASRIA DIGITAL PAYMENTS
Nafie goes on to explain how many of the fintechs they work with appreciate the flexibility and knowledge that comes from MDP ’ s experience . For instance , a card issued via a startup venture may be redundant just six months later . MDP can anticipate this and be ready to deliver the next generation of solution as and when required .
“ At the end of the day , if I have 10 customers , and they ' re only issuing 1,000 cards each , because I ' m being inflexible , then there is no benefit for me ,” he says . “ But if I actually work much harder for these guys , go the extra mile , and keep changing the product for them , and they enhance their products , suddenly they have a million customers who are making money . This is the bottom line . All I care about is our customer success .”
The second point Nafie is keen to make is the development of MDP ’ s own APIs – something he describes as the key factor for new digital banks .
MDP has developed an in-house API layer that they are able to manage themselves , without the need to rely on a third party . This allows for greater customisation and using fresh ideas from customers to innovate even further .
The third point of difference that makes MDP stand out from the crowd is the fact it offers turnkey solutions – which is scarce if not unique in the MENA region .
“ We have the fulfilment , we have the processing , and we have the APIs ,” says Nafie . “ So if you want to issue a card , you only need to talk to MDP – no-one else . Everything is in-house .”
“ Fintechs need to be agile and move quickly , so being able to offer the complete solution is a real benefit for our customers .”
It is not only the fintech startups that appreciate the full service that MDP can provide – even the central banks turn to MDP as a trusted partner to guide fintech startups through the regulatory processes .
Looking to the future , which countries in MENA offer the greatest potential when it comes to digital payments ? The focus previously had very much been on North Africa , but Nafie reveals MDP is looking at Pakistan as a next target market – as it has many similarities to the Egypt market MDP knows so well .
“ Pakistan has a very similar landscape to Egypt – a large population , most of them under 25 , and tech savvy ,” says Nafie . “ They have a very advanced central bank which is looking to promote fintech .