July 7 2021

Tutuka announces five-year strategic partnership with Mastercard in Mexico

The partnership will introduce new payment technologies and increase financial inclusion in the region, while empowering the move toward a cashless society.

Tutuka is proud to announce the signing of a five-year strategic partnership with Mastercard in Mexico.

Tutuka enables fintechs, telcos, transfer providers, mobile wallets and digital banks to issue cards across 40 countries, and is the first issuer-processor to process payments across five continents. Through this deal, Tutuka becomes a key player in Mastercard Fintech Express, a programme that provides a suite of tools and resources to enable payment innovators to grow and scale their business by leveraging the power of partnerships.

The new partnership is already active, with both Mastercard and Tutuka’s teams underway rolling out the planning and execution of agreed initiatives. Tutuka already has an established presence, as well as strong, long-term relationships with various Mastercard Teams, in the region.

This partnership represents an opportunity for the B2C and B2B markets in Mexico to have greater access to the services and benefits of both Mastercard and Tutuka, together, while enhancing existing benefits, as well as improving core differentiators such as time-to-market.

The development of joint projects on a larger scale, with the customisation required for various players in the region, enables significant improvement in benefits, rapid fulfilment, time-to-market, and many others. This will also enable exponentially scalable development and growth, as well as faster launch times with greater scope of service for both brands’ clients.

“The advancement of technology creates great opportunities, and at Mastercard, we’re committed to working towards a digital economy that works for everyone, everywhere,” commented Mastercard’s Pablo Cuaron, Director of New Payment Flows. “As the partner of choice for 86% of top Fintech brands in Latin America, we know that by working together we can shape the future of commerce and forge new paths for inclusive economic growth, thus improving quality of life and financial security for consumers, businesses large and small, and customers across different industries.”

Tutuka CEO, Rowan Brewer added, “This strategic partnership with Mastercard is a great opportunity for Tutuka to offer our Mexican clients innovative payment options that are safe, simple and secure. As a global leader in the Payments Processing Industry, Tutuka remains committed to providing the innovation, expertise and flexibility needed to help and guide our clients on their digital transformation journey.”

About Tutuka

Tutuka is a third-party payments enabler that makes payments happen by enabling its clients' customers to pay with Mastercard, Visa, and Union Pay cards and products.

Tutuka enables businesses like Fintechs, Telcos, Digital Banks, Wallets and Money Transfer Providers across Africa, Asia, the Middle East, Latin America, and Europe to issue virtual and physical cards and other Mastercard, Visa and UnionPay payment products. Tutuka's Processor Plus model allows its clients to easily, cost-effectively, and quickly link into card schemes without the complexity and slow timelines typically associated with traditional processors.

www.tutuka.com

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 of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.

www.mastercard.com

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