UAE’s FinTech Innovation MasterCard, the leading payment technology company and the tech ecosystem based in Abu Dhabi Global Market Square named Hub71 signed a Memorandum of Understanding (MoU) for nurturing global FinTech start-ups and technology companies.
Hub71 had already been in the vanguard for promoting innovative partnerships in UAE. This MoU will upkeep leveraging either party’s strengths.
MasterCard has a separate engagement program wing called Start Path. Through this program, MasterCard aims at concocting the network of innovators across the globe, thus modelling the future of global trade together.
MasterCard is proficient and are masterminds in technology that can be used for benefitting the partnering businesses. Under Start Path of MasterCard, there are already 200 technology start-ups and have jointly yielded 2.6 billion US dollars in post program investment.
As per UAE’s Ministry of Economy, UAE has more than 94% of total number of companies in the SME sector that provide jobs for more than 86%of the private sector workforce.
Presently, MasterCard is closely working with the UAE government and banks to crack the opportunities for small to medium enterprises through a range of resourcefulness thus driving education and creating opportunities across the country.