I&M Bank Uganda has announced its strategic partnership with Mastercard, a global leader in digital payments and technology. The collaboration aims to revolutionize the banking experience for customers by driving digital transformation and enhancing payment security through cutting-edge digital payment solutions.
The bank launched a range of new I&M Bank Mastercard cards to the market, including the I&M Bank Standard Debit Mastercard, I&M Bank World Debit Mastercard, and I&M Bank World Elite Debit Card, which will offer enhanced features and functionality that will greatly transform the customers’ experience and how they manage their finances and make payments.
Recognizing the increasing importance of payment security in the digital landscape, I&M Bank and Mastercard will prioritize the implementation of robust security protocols to safeguard customer transactions during digital payments.
“This partnership reflects our commitment to embracing digital innovation and enhancing the convenience and security of our customers’ financial journeys. By leveraging Mastercard’s expertise and advanced payment solutions, we aim to revolutionize the way our customers bank and transact,” said Robin Bairstow, CEO I&M Bank Uganda.
In addition to strengthened security measures, I&M Bank World Elite Debit cardholders will enjoy exclusive benefits tailored to their lifestyle. These benefits include complimentary travel insurance for air ticket purchases, access to select airport lounges, and attractive discounts at participating hotels worldwide. These privileges aim to elevate the travel experiences of I&M Bank customers and provide added value from their banking relationship.
“Mastercard’s cutting-edge technology, combined with I&M Bank’s commitment to customer-centric innovation, will empower customers to embrace digital transactions with confidence. Together, we will drive financial inclusion and provide secure and convenient banking experiences to our customers,” said Annette Nakiyaga, Head of Communications and Corporate Affairs at I&M Bank Uganda.
“We are excited to partner with I&M Bank Uganda to launch this new range of cards aimed at transforming digital payments for cardholders in Uganda. At Mastercard, we share I&M Bank’s vision of empowering customers to embrace the benefits of digital transactions by making transactions safe, seamless, convenient, and rewarding,” said Shehryar Ali, Country Manager for East Africa at Mastercard.
Mastercard describes itself as a global technology company in the payments industry whose mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible in over 210 countries and territories.
I&M Bank Uganda on the other hand, launched its operations in Uganda on 08 November 2021 following the acquisition of Orient Bank. It is part of I&M Group PLC which was incorporated on 16th August 1950 and is listed on the Nairobi Securities Exchange (NSE). I&M Group has diversified with interests in banking, insurance, corporate finance advisory, real estate and has subsidiaries in Kenya, Rwanda, Uganda, Tanzania and Mauritius. It aspires to be “Eastern Africa’s Leading Financial Partner for Growth’’ by offering innovative and market-driven banking solutions for its target segments.
The collaboration between the two industry leaders signifies a significant milestone in the financial sector’s journey toward digital transformation, redefining the banking experience and setting new standards for customer convenience, payment security, and financial innovation.