The financial super-app and fintech division of e& life, e& money, announced a partnership with Mastercard to reinvent and advance how customers make payments via a special prepaid card. This will enable payments anywhere in the world and provide the flexibility and convenience of using both virtual and physical cards. The e& money card considerably improves the present offering, which gives clients access to a digital wallet for payments, international money transfers, peer-to-peer transfers, and much more.
Khalifa Al Shamsi, CEO, e& life said: “In recent years, the payments landscape has undergone a massive transformation, with innovations in products and customer experience. Our partnership with Mastercard will reinforce our goal of becoming the region's leading financial super app. The card will enable e& money to drive financial inclusion in the UAE and make digital payments accessible to all segments of our society.
“We are excited about the possibilities and opportunities that the card will bring, and will constantly push the boundaries to introduce new digital fintech solutions that will enrich the financial experiences of customers.”
Before, customers of e& money could already make retail payments at integrated points of sale. They will now be able to instantly make in-store or online payments, anywhere in the world, thanks to the new strategic collaboration with Mastercard. Customers will first have virtual cards for online purchases with the option to request physical cards in the near future for offline purchases with this digital-first card.
Mastercard is actively promoting digital inclusion and accessibility for individuals all throughout the area by pledging to advance innovation, technology, and digitalization to streamline payments through mobile money. All client categories, including banked, underbanked, and unbanked individuals, will be supported by the new payment system in terms of financial inclusion and digital payments.