Bolstering its digital strategy, Mastercard has confirmed a new partnership with Bankiom, a UAE-based lifestyle banking app.
The collaboration is set to introduce digital payment cards across the UAE, Saudi Arabia, Bahrain, Kuwait, and Oman.
Amnah Ajmal, Executive Vice President Market Development, EMEA, Mastercard, commented: “As we move into a more digital world, building productive synergies with multi-market, agile fintech partners such as Bankiom is crucial.
“The GCC alone has one of the world’s highest rates of internet penetration at 98% of the region’s population. Our partnership will help us leverage our innovative payment solutions to drive digital and financial inclusion across the region.”
Launched in March 2022, Bankiom has experienced a period of growth, and through its link with Mastercard the firm has outlined its focus on a tech-first approach.
Danny Abla, Founder of Bankiom, added on the deal: “Bankiom is a digital bank for that moment in your life where you want to live life to the max, and we’re calling it PuraVida. Think of it as a subscription to the ‘good life’.
“Our mission is to spread happiness through financial services; so partnering with Mastercard, especially with their Priceless brand, was a no brainer for us. We both share the same mission and we both share the same passion to deliver amazing, memorable life experiences for our customers.”
