Mastercard and Payment24 have announced an expanded partnership aimed at enhancing security and driving innovation in the fleet and fuel payment industry across Eastern Europe, the Middle East, and Africa (EEMEA). This collaboration seeks to accelerate the adoption of the secure EMV standard, significantly reducing the risk of fraud associated with magnetic strip fleet cards.
The EMV standard, already implemented in over 80 markets, has been instrumental in decreasing counterfeit card fraud, saving millions in potential losses. By extending their engagement, Mastercard and Payment24 aim to introduce advanced fleet and fuel payment solutions to banks and fleet card issuers throughout the region.
This partnership leverages Mastercard’s cutting-edge payment technology and Payment24’s innovative fuel payments platform to offer a comprehensive solution that enhances security and adds significant value for customers. Drivers benefit from a quick, secure, and seamless payment process, while fleet operators can monitor driver spending in real-time, set expense limits, and reduce the reliance on cash.
“By combining Mastercard’s leading payment technology with Payment24’s proven fuel payments platform, we provide a solution that enhances security and adds significant value and convenience for customers in the region,” said Clyde Rosanowski, Senior Vice President of Commercial Solutions, EEMEA at Mastercard.
The partnership will enable customers to deploy and scale secure fleet and fuel payment offerings rapidly. The new suite of EMV-based payment products includes tokenized tags, e-wallets, and vouchers, all integrated into the Payment24 platform.
“We are proud of the progress in our partnership with Mastercard. Expanding our alliance to the EEMEA region underscores the urgent need to address fraud in the fleet and fuel payments industry. Our combined offering will help banking customers mitigate risks associated with legacy technologies while enhancing transparency and flexibility,” said Shadab Rahil, Joint CEO of Payment24.
“Our expertise in fuel and fleet technologies extends beyond secure EMV cards. We offer mobile payments, windshield tags for identification, and real-time tracking of vehicles and fuel via telematics, all integrated into a comprehensive fleet management platform. This allows customers to monitor fuel expenses and consumption actively and detect and prevent potential fraud,” added Nolan Daniel, Joint CEO at Payment24.
Customers across the EEMEA region can now rely on Mastercard’s robust security layers, fraud prevention technologies, and dispute processes, supported by Payment24’s deep technical expertise in fuel payment technologies. This partnership ensures that every transaction is protected, providing peace of mind for fleet operators and drivers alike.