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MASTERCARD & GALILEO ARE DRIVING FINTECH INNOVATION IN LATIN AMERICA

Mastercard & Galileo Are Driving Fintech Innovation in Latin America

March 12, 2024

Mastercard® is a financial services company that operates an electronic payment network in Latin America and the rest of the world. Founded in 1966, Mastercard is one of the leading brands and facilitates transactions between consumers, merchants, banks, and other institutions in more than 210 countries and territories.

Mastercard offers much more than simply financial technology or cards. Mastercard actively participates in making transactions safer, simpler, more transparent and smarter. On the other hand, Mastercard provides innovative solutions for Latin America, where user adaptability and openness to use these innovative payment methods stand out.

We sat down with Abdul Assal, Vice President of Fintechs and Enablers for Latin America at Mastercard to ask him a few questions about how Galileo and Mastercard are working together in Latin America.

This interview was done at Money20/20 in October 2023.

"The Latin American population is very open to trying new technologies, so we have a great ability to implement innovative solutions and scale them in market… we have quite a bit of acceptance from people experiencing these new technologies," mentions Abdul Assal, Vice President of Fintechs and Enablers for Latin America at Mastercard.

Mastercard and Galileo, together, offer more than technology; they offer teams of professional specialists, innovators, and a willingness to grow with partners.

"Apart from technology… it's the people. It's not enough to be talented, they have a desire to do. I think if we look at both teams, they are all very eager to do, very synchronized, not only the business strategy team but also the product implementation team."
Abdul Assal
Vice President of Fintechs and Enablers for Latin America at Mastercard

Mission: Mastercard's mission is to connect and power an economy to be more digital, inclusive, secure, simple, transparent, and smart. Mastercard aims to strengthen the economy and empower people so that together we can build a more sustainable future and world.

Mastercard and Galileo have a common goal: To add value to the financial ecosystem. This financial technology complements and is focused on delivering to our clients and partners through value propositions and solutions that add positive value for everyone. Mastercard has collaborated for years with Galileo, learning from each other and sharing the same goal and vision. "I highlight the leadership of Tory Jackson in the region, who is making Galileo's expansion into Latin American markets very successful," said Abdul.

Disclosure: Mastercard is a current partner of Galileo, that has not been compensated to appear in Galileo marketing. Neither should this be deemed as a solicitation for any Mastercard products or services. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

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