KARACHI, Pakistan — Neem, a leading embedded finance platform in Pakistan, has entered a
multifaceted partnership with Mastercard, a global technology company in the payments
industry. The strategic multi-year collaboration will enable financial wellness for Pakistan’s
underserved communities. The Partnership marks Mastercard’s first view into the embedded
finance space in Pakistan.
Embedded finance enables companies from any sector to integrate financial services directly
into their products via application programming interface (API) implementation. It gives
businesses the opportunity to provide payments, lending, insurance, and other financial services
without the need to build a proprietary financial infrastructure themselves.
This collaboration spans multiple aspects of Neem’s business, including the issuance of cards,
which range from debit and virtual cards to a co-branded offering. Additionally, it involves
strengthening synergies through product-driven initiatives like remittances, loyalty reward
programs, and more in the future.
“Our partnership with Mastercard marks a significant milestone for Neem and the embedded
finance movement in Pakistan. It will advance us further on our mission to enable financial
wellness for underserved people and businesses. It also emphasizes our commitment to
sustainability, and as pioneers in the country, we are introducing eco-friendly debit cards. We
hope to inspire the wider industry towards sustainable finance solutions,” said Vladimira
Briestenska, cofounder at Neem.
Both Neem and Mastercard believe that embedded finance has the potential to spark a financial
wellness shift in Pakistan, as it has already been demonstrated by embedded finance operators
across Africa, Asia, and the Pacific.
“For more than 50 years, Mastercard has been leveraging its technology, network, and global
reach to help individuals and businesses achieve financial security and drive sustainable
economic growth. As we work to build a more inclusive and connected future, we are creating a
robust ecosystem that supports scalable innovation by enabling financial service providers to
reach entire populations. We view embedded finance as a fundamental tool for companies to
deliver and consume services in the future,” said J.K. Khalil, Cluster General Manager, MENA
East at Mastercard.
“We are delighted to collaborate with Neem to fuel Pakistan’s digital economy through the
power of embedded finance. Our partnership will help expand our reach to the underserved
segments in our markets and drive financial inclusion in line with our commitment to bring 1
billion people across the globe into the digital economy,” said Arslan Khan, Vice President and
Country Business Manager, Pakistan at Mastercard.
Neem is on a mission to enable digital businesses in Pakistan to offer financial services to their
customers. Neem’s platform provides a range of embedded financial services, including full
payments infrastructure, embedded lending, and insurance, across diverse industries, like
mobility, agriculture, gaming, e-commerce, and more. This partnership reaffirms Mastercard’s
belief in Neem’s approach.
“In Pakistan, the level of financial wellness is notably low, with less than 30% of its 230 million
population having access to any form of financial services. This is where the embedded finance
model can help address the finance wellness gap,” said Fawwad Raza, Head of banking
operations at Neem.
Pakistan’s market remains largely untapped, and initiatives like this one have the potential to
create a substantial impact. By adopting globally proven models tailored to local use cases, this
strategic partnership aims to position Pakistan on the global map of embedded finance.
