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 Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term 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.