Page 25 - SAMENA Trends - March-April 2023

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

e& Money and Mastercard Enter into a One-of-a-Kind Partnership to
Transform Digital Payments for 10 million Consumers in the UAE

e& money - the fintech arm and financial partnership with Mastercard will now allow digital e-retailers and fintech companies
super-app of e& life announced its them to make in-store or online payments to their consumers, and our partnership
partnership with Mastercard to transform instantly, anywhere in the world. As a with e& money will enhance the digitally
and evolve the way customers make digital-first card, customers will initially connected lifestyle that unlocks exceptional
payments via an exclusive prepaid card - have virtual cards for online payments experiences for consumers," said Amnah
enabling payments anywhere in the world and will soon be able to request physical Ajmal, Executive Vice President, Market
and offering the flexibility and convenience cards for offline payments. By committing Development, EEMEA, Mastercard. Prepaid
of using virtual and physical cards. The to advancing innovation, technology card transactions will also form an integral
e& money card significantly enhances and digitalization to simplify payments part of e& money's loyalty program, where
the current proposition, where customers through mobile money, Mastercard is customers will earn cashback and rewards
have a digital wallet to make peer-to-peer actively engaged in driving digital inclusion for every dirham spent. These in turn can
transfers, international money transfers, and accessibility for people across the be redeemed for various benefits such as
payments, and much more. Khalifa Al region. The new payment solution will free data plans, minutes, discount codes,
Shamsi, CEO, e& life said: “In recent years, support financial inclusion and digital and more. In addition, the e& money app
the payments landscape has undergone a payments across all customer segments, card will allow customers to take control
massive transformation, with innovations including the banked, underbanked and of their finances and track their spending.
in products and customer experience. Our unbanked. Through its partnership with In the first phase of the launch, the free
partnership with Mastercard will reinforce Network International, one of the leading virtual card will be provided to all eligible
our goal of becoming the region's leading enablers of digital commerce in the region, customers who download and register
financial super app. The card will enable e& Mastercard is providing a fully-fledged on the app. It can also be added to Apple,
money to drive financial inclusion in the UAE payment processing platform to empower Google and Samsung pay platforms for
and make digital payments accessible to this strategic initiative. Mastercard will retail payments in the near future. In the
all segments of our society. “We are excited further leverage Network's payment next phase, e& money will enrich its card
about the possibilities and opportunities solutions to enable e& to diversify their portfolio with various value propositions to
that the card will bring, and will constantly revenues and make a seamless transition meet the needs of customer. e& launched
push the boundaries to introduce new to digital commerce. "At Mastercard, its new identity in February 2022 with a
digital fintech solutions that will enrich we are committed to supporting the strategy to accelerate growth through
the financial experiences of customers. national payments ecosystem and the creation of a resilient business model
Previously, e& money customers were the transformation of the UAE digital represented by the Group’s main business
already able to make retail payments at landscape. We are the technology provider pillars. The telecoms business currently
integrated points of sale. The new strategic of choice that connects telecom operators, continues to be led by etisalat by e& in the
Group’s home market and e& international
for other markets, upholding the Group’s
rich telecoms heritage, bolstering the
strong telecoms network and maximizing
value for the Group’s various customer
segments. Ramping up the digital services
for individuals to elevate their digital-driven
lifestyle, e& life brings next-generation
technologies through smart platforms
in entertainment, retail and financial
technology. e& enterprise focuses on
maximizing value through its end-to-end
solutions in cybersecurity, cloud, Internet
of Things (IoT) and Artificial Intelligence
(AI), as well as deploying mega projects, in
order to enable the digital transformation
of governments, large-scale enterprises
and corporates. e& capital allows the
Group to focus its efforts on driving new
investments while maximizing shareholder
value and strengthening the Group’s global
presence.

25 MARCH-APRIL 2023