Invest Bank taps Mastercard for card issuance and remittances

By Delisha Fernandes

Invest Bank, a commercial bank in the UAE, has selected Mastercard as its strategic partner for retail and corporate card issuance and remittances. Invest Bank’s partnership with Mastercard will contribute to expanding its retail banking offerings and develop a comprehensive digital proposition for its client base.

Through this collaboration, the Bank further enhances the high-quality experience its customers enjoy, giving them access to a wide range of Mastercard lifestyle and travel benefits that will bring added convenience to their everyday lives.

“At Invest Bank, we are always seeking additional avenues of enhancing the high-quality proposition enjoyed by our customers. This partnership allows them to leverage Mastercard’s innovative suite of products and solutions,” said Ahmad Abu Eideh, CEO, Invest Bank. “Our customers already appreciate the niche we have carved for ourselves in the UAE’s crowded retail banking market, and we hope to draw on Mastercard’s advisory support to further consolidate this niche.”

In addition to exciting promotions in the UAE, such as free airport rides and airport fast track, they can enjoy special global data roaming packages, complimentary travel insurance and instant entry to over 1,000 airport business lounges worldwide. Additionally, the Bank will have access to Mastercard Priceless Cities, an exclusive platform that connects Mastercard cardholders to unforgettable experiences in the cities where they live and travel.

Regarding remittances, the partnership enables Invest Bank customers to leverage Mastercard Cross-Border Services, which offer instant person-to-person money transfers with highly competitive transaction fees and exchange rates compared to conventional channels. Available through online banking and Invest Bank’s mobile app, the service also allows SMEs to make real-time corporate payments worldwide.

“For over 35 years, Mastercard has been partnering with financial institutions across the UAE to fuel the digital economy. Our capabilities and solutions help financial institutions expand and digitize their offerings, helping them cater to the evolving needs of their consumers,” said Gina Petersen-Skyrme, Vice President and Country Business Development Lead, UAE & Oman, Mastercard.