Mastercard has recently announced three significant partnerships in the UAE, a move designed to enhance financial access and literacy across the region. Collaborating with Al Etihad Payments, LikeCard, and CredibleX, Mastercard aims to streamline payment processes, empower families, and improve the financial standing of small businesses. These partnerships reflect Mastercard’s commitment to the UAE and its strategic push for innovation and financial inclusion in the Middle East.
Transforming Family Banking with LikeCard
Mastercard’s partnership with LikeCard, a leading platform for e-commerce prepaid cards in the MENA region, is centered around launching a new family banking solution. This collaboration aims to equip families with the tools and knowledge needed to foster responsible spending and build financial literacy.
With this initiative, Mastercard and LikeCard are focused on introducing an AI-powered family banking experience that integrates simple smartphone technology. The solution helps families manage their finances, set spending limits, and track expenses with ease. Designed with children in mind, the platform also offers essential money management lessons, empowering younger generations to develop good financial habits early.
Mastercard EEMEA is partnering with LikeCard to enhance financial literacy, a crucial aspect of economic empowerment. The partnership aims to create a secure, digital banking experience, enabling families to make informed financial decisions together, fostering a safer financial future.
LikeCard CEO Ammar Alsoos announces a collaboration with the bank to offer an AI-driven family banking experience, improving money management, security, and convenience in the region.
Empowering SMEs through CredibleX and Mastercard’s Data Analytics
In addition to supporting families, Mastercard is also focusing on small and medium-sized enterprises (SMEs) in the UAE. Through a strategic partnership with CredibleX, a credit-as-a-service platform, Mastercard aims to improve SME financing. The collaboration will integrate Mastercard’s Small Business Credit Analytics into CredibleX’s services, providing small businesses with data-driven insights to secure better financing terms.
CredibleX will leverage Mastercard’s analytics tools to gain deeper insights into the financial performance of small businesses, enabling more informed lending decisions. This collaboration is set to reduce underwriting time, improve credit access, and ultimately help SMEs grow more effectively.
CredibleX and Mastercard are partnering to revolutionize data-driven SME financing in the region, demonstrating a shared vision for financial inclusion and innovation through advanced analytics.
Mastercard EEMEA’s EVP of Services, Selin Bahadirli, highlights the company’s Small Business Credit Analytics as a revolutionary tool for SMEs, enhancing their credit access and growth opportunities.
Enhancing Payment Services with Al Etihad Payments
Mastercard’s collaboration with Al Etihad Payments, the UAE’s national card switch, marks another significant milestone in the region’s payment landscape. The two companies have launched the co-branded ‘Jaywan – Mastercard’ debit and prepaid cards, designed to make transactions simpler, safer, and more accessible.
This partnership aims to enhance the user experience for UAE cardholders, offering secure e-commerce transactions and seamless access to financial services. By combining Mastercard’s innovative payment solutions with Al Etihad Payments’ expertise in the UAE market, the collaboration sets a new standard for digital payments in the region.
Mastercard has partnered with Al Etihad Payments to enhance financial services in the UAE, aiming to improve accessibility and empower consumers to participate in the digital economy, according to J.K. Khalil, division president of East Arabia.
Saif Humaid Aldhaheri, Assistant Governor of the Central Bank of the UAE and Chairman of Al Etihad Payments, emphasized that this partnership aims to enhance payment services, boosting both security and user convenience. The collaboration aligns with the UAE’s digital transformation goals and broader economic growth ambitions.
Mastercard’s Vision for the Future of Financial Services in the UAE
These partnerships reflect Mastercard’s strategic focus on driving innovation and financial inclusion in the UAE. Through collaborations with key regional players such as LikeCard, CredibleX, and Al Etihad Payments, Mastercard is positioning itself as a key enabler of financial empowerment, offering solutions for families, SMEs, and consumers.
By advancing digital banking tools, improving credit access for businesses, and enhancing payment systems, Mastercard is helping shape the future of the UAE’s financial landscape. As the region continues to embrace digital transformation, these partnerships will be crucial in fostering an inclusive, secure, and efficient financial ecosystem for years to come.
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