e&, Mastercard partner to boost digital future

ALBAWABA - e& has announced a strategic partnership with Mastercard to bolster an ambitious digital future for consumers in 16 markets across the Middle East, Asia and Africa.

The two firms said in a joint statement emailed to Albawaba that the partnership will help consumers and business to "benefit from a variety of new technologies and user-friendly experiences powered by Mastercard’s capabilities when using digital financial services provided by e& operating companies."

"These experiences include providing consumers with innovative alternatives to how they choose to pay for a variety of lifestyle activities," the statement said. It said consumers will also "benefit from exciting, personalized offerings and opportunities to engage with multiple brands."

Mastercard will support e& as it expands its financial services ecosystem across its footprint by "integrating digital payment services and tools into people’s day-to-day lives," the statement said.

"The collaboration will enhance the consumer user-experience journey and encourage greater agility and flexibility in business operations," it explained. It said that the benefits will "impact consumers whether they are making purchases in-store or online."

"They will also be able to send and receive money internationally between people and businesses through a simple, safe and convenient remittance payment option," according to the statement.

e& international CEO Mikhail Gerchuk said consumers’ payment behaviors and spending habits have "changed dramatically over the last few years, and it is imperative that we stay innovative to create solutions that enhance their digital journey."

"Our strong presence in 16 countries across the Middle East, Asia and Africa, provides multiple opportunities to scale synergies, explore growth opportunities and
identify new possibilities to work in collaboration with strategic partners," he said.

"Through our partnership with Mastercard, we will ramp up our efforts to bring financial offerings that consumers most need in the digital age," he added.