Mastercard and I&M Bank have announced the extension of
their strategic collaboration with an 8-year alliance, aimed at enhancing value
propositions for cardholders in Kenya. The partnership aims to provide benefits
through competitive premium customer value propositions offered by I&M
Bank’s range of debit and credit cards.

Delivering Value and Secure Payment Solutions

The collaboration between Mastercard and I&M Bank has
been noted for its significant value delivery to customers, businesses, and the
economy at large. Leveraging Mastercard’s advanced technology and I&M
Bank’s extensive local network, the alliance aims to facilitate seamless and
secure payment solutions for individuals and businesses across Kenya.

The extended collaboration includes various offerings such
as 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, tailored to their respective card
categories.

Features and Security Measures for Cardholders

Depending on the card category, holders will have access to several
lifestyle privileges both locally and globally, including earning loyalty
points, enhanced credit card limits, and multicurrency prepaid cards supporting
up to three currencies. Additionally, customers will benefit from enhanced card
safety controls within the I&M On-The-Go mobile and internet banking
applications, facilitating seamless top-ups for prepaid cards and credit card
payments via the I&M Bank OTG App.

Mastercard and I&M Bank [@imbankke] are set to extend their partnership for another 8 years.I&M Bank customers to continue to have access to an array of premium Mastercard debit and credit cards, loaded with travel, lifestyle benefits, and advanced security features. pic.twitter.com/Op7cFoiSvf

— Mwango Capital (@MwangoCapital) May 6, 2024

Moreover, the cards are equipped with world-class security
features, backed by Mastercard’s trusted technology, ensuring robust customer
protection. The integration of new technologies such as contactless payment
further enhances the checkout experience, providing consumers with a swift and
secure payment method of choice.

“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.

This article was written by Tareq Sikder at www.financemagnates.com.

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