E& Money, a FinTech arm and financial super-app of e& life has partnered with Mastercard to transform how customers make payments via prepaid cards.
The prepaid card enables payments anywhere worldwide, offering the flexibility and convenience of using virtual and physical cards.
Khalifa Al Shamsi, CEO e& life, said, “In recent years, the payments landscape has undergone a massive transformation, with innovations in products and customer experience. Our partnership with Mastercard will reinforce our goal of becoming the region’s leading financial super app. The card will enable e& money to drive financial inclusion in the UAE and make digital payments accessible to all segments of our society.’’
Mastercard is actively driving digital inclusion and accessibility for people across the region. The new payment solution will support financial inclusion and digital payments across all customer segments, including the banked, underbanked, and unbanked.
Through its partnership with Network International, one of the region’s leading enablers of digital commerce, Mastercard is providing a fully-fledged payment processing platform to empower this strategic initiative. Mastercard will further leverage Network’s payment solutions to enable e& to diversify their revenues and seamlessly transition to digital commerce.
“At Mastercard, we are committed to supporting the national payments ecosystem and the transformation of the UAE digital landscape. We are the technology provider of choice that connects telecom operators, digital e-retailers and fintech companies to their consumers, and our partnership with e& money will enhance the digitally connected lifestyle that unlocks exceptional experiences for consumers,” said Amnah Ajmal, Executive Vice President, Market Development, EEMEA, Mastercard.
Additionally, the e& money app card will allow customers to take control of their finances and track their spending. In the first phase of the launch, the free virtual card will be provided to all eligible customers who download and register on the app.News Source: IBS Intelligence