Kenya: Mastercard, I&M Bank extend strategic partnership to 8 years

Mastercard and I&M Bank have prolonged their strategic partnership with an eight-year extension, reinforcing benefits for cardholders in Kenya.

This alliance guarantees I&M Bank client’s access to competitive premium customer benefits, including a diverse selection of top-tier debit and credit cards.

Over the past five years, the collaboration between Mastercard and I&M Bank has consistently provided substantial value to customers, businesses, and the overall economy.

Through the utilization of Mastercard’s advanced technology and I&M Bank’s extensive local network, this partnership aims to enhance the provision of seamless and secure payment solutions for individuals and businesses across Kenya.

“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.

 I&M Bank chief executive Gul Khan said: “As we celebrate 50 years of I&M Bank, 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.”

“By extending this alliance, I&M Bank has demonstrated its commitment to delivering tailor-made, digital solutions that cater to the distinct needs of our valued customers, “Khan added.

The extended collaboration includes a range of offerings, including Platinum Debit, World Elite Debit, World Debit, Multi-currency Prepaid Cards, and Credit Cards.

These cards offer customers a wide array of travel benefits, privileges, and experiences.

Depending on the card category, holders gain access to various lifestyle privileges both locally and globally.

These privileges encompass earning loyalty points, which are converted into cash and credited to the customer’s loyalty account, increased credit card limits, multi-currency prepaid cards supporting up to three currencies, and enhanced card safety controls accessible through the I&M On-The-Go mobile and internet banking applications.

Additionally, I&M Bank customers will continue to seamlessly top up prepaid cards and make credit card payments via the I&M Bank OTG App.

Furthermore, these cards are equipped with world-class security and reliability, backed by Mastercard’s trusted technology, ensuring robust customer protection.

By integrating new technology like contactless payment, the checkout process becomes quicker and more secure, empowering consumers to choose their preferred payment method with ease.