INTELLIGENT BRANDS // Mobile Technology

& money , the fintech arm and financial super-app of e & life , announced its partnership with Mastercard to transform and evolve the way customers make payments via an exclusive prepaid card – enabling payments anywhere in the world and offering the flexibility and convenience of using virtual and physical cards .

The e & money card significantly enhances the current proposition , where customers have a digital wallet to make peer-to-peer transfers , international money transfers , payments , and much more .

Prepaid card transactions will also form an integral part of e & money ’ s loyalty programme , where customers will earn cashback and rewards for every dirham spent . These in turn can be redeemed for various benefits such as free data plans , minutes , discount codes , and more .

In addition , the e & money app card will allow customers to take control of their finances and track their spending . In the first phase of the launch , the free virtual card will be provided to all eligible customers who download and register on the app . It can also be added to Apple , Google and Samsung pay platforms for retail payments in the near future . In the next phase , e & money will enrich its card portfolio with various value propositions to meet the needs of customers .

Previously , e & money customers were able to make retail payments at integrated points of sale . The new strategic partnership with Mastercard will now allow them to make instore or online payments instantly , anywhere in the world . As a digital-first card , customers will initially have virtual cards for online payments and will soon be able to request physical cards for offline payments .

By committing to advancing innovation , technology and digitalisation to simplify payments through mobile money , Mastercard is actively engaged in driving digital inclusion and accessibility for people across the region . The new payment solution will support financial inclusion and digital payments across all customer segments , including the banked , underbanked and unbanked .

Through its partnership with Network International , Mastercard is providing a fully-fledged payment processing platform to empower this strategic initiative . Mastercard will further leverage Network ’ s payment solutions to enable e & to diversify their revenues and make a seamless transition to digital commerce .

e & money is the fintech arm of e &. Regulated and licensed by the UAE Central Bank , e & money is a financial super app aimed at empowering UAE citizens and residents with safe , convenient , and quick payment solutions through an easy-to-use mobile application . It is a rebrand from eWallet , which was the first wallet licensed by the Central Bank in the UAE that ushered in a new era of digital payments in the country .

e & money caters to both banked and unbanked segments of the society as it does not require a bank account , credit or debit card to complete digital transactions and payments . It offers services such as international and local transfers , payments and gifting . These services are available via smartphone applications for consumers , web portals , smartphone applications and direct interface .

“ At Mastercard , we are committed to supporting the national payments ecosystem and the transformation of the UAE digital landscape . We are the technology provider that connects telecom operators , digital e-retailers and fintech companies to their consumers , said Amnah Ajmal , Executive Vice President , Market Development , EEMEA , Mastercard . p

www . intelligentcio . com INTELLIGENTCIO MIDDLE EAST 69