Spearheading an ambitious digital future across 16 markets
March 12, 2023 | By Amnah Ajmal
As more people enter the financial mainstream, money management tools and solutions must be fit for purpose – inclusive, digitally driven, and secure. Mastercard plays a key role in building a future where payments keep pace with the way we live, work, and do business, accelerated by the rapid transition to digital offerings. Mastercard serves as a technology provider of choice that seamlessly connects telecom operators, e-tailers, and fintech companies to their consumers.
In this context, Mastercard entered a strategic partnership with e&, a UAE-based technology and investment group that is undergoing a major transformation. The collaboration will enable consumers and businesses in 16 markets across the Middle East, Asia, and Africa to gain access to new solutions powered by Mastercard’s capabilities when using digital financial services provided by e& operating companies.
Whether making purchases in store or online, consumers will benefit from a wide variety of innovative options to pay for lifestyle activities, exciting personalized offerings, and opportunities to engage with multiple brands.
Mastercard will support e& as it expands its financial services ecosystem across its footprint by integrating digital payment services and tools into people’s day-to-day lives. The partnership will enhance the user experience and boost agility and flexibility in e&’s operations.
As part of the relationship, Mastercard also initiated a collaboration with e& money, the financial services arm of e&, to launch a digital-first prepaid card in the UAE that allows users to make international fund transfers, peer-to-peer payments, and more. e& money customers were already able to make payments at integrated points of sale. With the Mastercard tie-up, they can make in-store or online payments instantly from anywhere in the world. Physical cards for offline payments will soon be added to the offering.
Digital payment methods, such as e-wallets, are widely used among UAE consumers, with cash-based payments getting less of a look-in across nearly all demographics.
