Mastercard and I&M Bank Extend Strategic Collaboration for Enhanced Customer Value

In a move that could reshape how money matters are handled in Kenya, Mastercard and I&M Bank have revealed their strategic partnership where the two companies inked a deal to collaborate for the next 8 years. The deal is based on improving the various banking services available to card owners across the country with some additional nifty advantages.

The two companies have developed a strong relationship which has grown during the last five years, which was necessitated to enhance customer service delivery as well as making sure that everyone could be part of the financial industry. With Mastercard’s latest technology and I&M Bank’s vast local network, the partnership is intended to provide smooth and safe payment methods which meet specific requirements from the customers.

Mark Elliott who is the President for Africa at Mastercard, was excited about the continued partnership where he mentioned that it will contribute to progress in digital payments and financial inclusion within Kenya. “We are going forward together,” he said. “We help people and businesses to be strong with safe and easy payment methods that let them do their best.”

Gul Khan, I&M Bank’s CEO, echoed these sentiments while emphasizing the bank’s dedication to offer customized digital solutions to its clientele. “As we celebrate 50 years of I&M Bank,” Khan remarked, “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.”

The collaboration will include a wide range of cards, such as Platinum Debit, World Elite Debit, World Debit, Multicurrency Prepaid Cards, and Credit Cards. These cards will provide various advantages for customers in terms of travel benefits, special treatments and experiences within the country or worldwide.

Depending on the card category, customers can have different lifestyle benefits such as earning loyalty points, having increased credit card limits and using multicurrency prepaid cards that support up to three different currencies. Moreover, strong safety controls present in I&M On-The-Go mobile app as well as internet banking applications will guarantee peace of mind for users.

These cards have a strong emphasis on security and reliability. They are protected by Mastercard’s well-known technology, making sure that they provide the best protection against unauthorized activities as well as transactions not approved by the cardholder. The addition of contactless payment tech makes them even easier to use, allowing for fast and safe transactions when paying at the counter.

I&M Bank which was established in 1974, has become one of the top banks here in Kenya, providing many kinds of banking and financial services. Being a subsidiary of I&M Group, it has a strong presence in the Kenyan market with its activities covering areas such as banking to insurance and real estate.

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