Multinational Payment Corporation Mastercard and I&M Bank have extended their strategic collaboration with an eight-year strategic alliance, ensuring cardholders in Kenya continue to enjoy enhanced value propositions.
Under the deal, I&M bank clients will enjoy competitive premium customer value propositions through a range of world-class debit and credit cards.
Mastercard and the Nairobi Securities Exchange (NSE)-listed lender have collaborated for five years, delivering considerable value to customers, businesses, and the economy.
This agreement, which will leverage Mastercard’s cutting-edge technology and I&M Bank’s substantial local network, will make it easier for consumers and businesses in Kenya to access seamless and secure payment options.
“We are delighted to extend our collaboration with I&M Bank. This strategic alliance has enabled us to make significant progress in advancing digital payments and financial inclusion in Kenya. Together we
will continue to empower individuals and businesses with secure and convenient payment solutions that will help them reach their potential” said Mark Elliott, President, Africa at Mastercard.
“As we celebrate 50 years of I&M Bank, we are delighted to announce the expansion of our collaboration with Mastercard, aimed at providing an extensive range of lifestyle and travel benefits to our corporate, retail, and business clients. By extending this alliance, I&M Bank has demonstrated its commitment to delivering tailor-made, digital solutions that cater to the distinct needs of our valued customers,” said Gul Khan, Chief Executive Officer (CEO) of I&M Bank.
Read: KCB, Mastercard In Deal To Expand Payment In East Africa
The extended collaboration encompasses a variety of offerings, including Platinum Debit, World Elite Debit, World Debit, Multicurrency Prepaid Cards, and Credit Cards. These cards provide customers with a diverse array of travel benefits, privileges, and experiences.
Depending on the card category, holders have access to numerous lifestyle privileges both locally and globally. These privileges include earning loyalty points, which are credited as cash to the customer’s
loyalty account, enhanced credit card limits, multicurrency prepaid cards with support for up to three currencies, and card safety controls within the I&M On-The-Go mobile and internet banking applications.
Additionally, the lender’s customers will continue to seamlessly top up prepaid cards and make credit card payments via the I&M Bank OTG App.