Mastercard and Jordan Kuwait Bank announce strategic partnership to foster digital payment innovations in Jordan
Mastercard and Jordan Kuwait Bank have announced a long-term exclusive partnership to foster digital payment innovations in Jordan. As part of this landmark deal, Jordan Kuwait Bank will introduce a wide range of innovative card-based payment products to its customers including Mastercard debit and prepaid products to further enhance the banking and payment experiences to cardholders in Jordan. The partnership will also expand credit card issuance in the market, which will help increase the purchasing power of cardholders, offer them safer and more hygienic ways to pay, and in the longer-term accelerate digital payments adoption across the country.
Suhail Salman, Head of Alternative Delivery Channels, who leads the digital initiatives at Jordan Kuwait Bank said: “This strategic partnership comes in line with our continuous efforts to provide advanced banking solutions to our customers and keep pace with the rapid transformation that the financial services industry is witnessing. Customers’ expectations are evolving in line with technological advancements and we are committed to being frontrunners in the digital transformation journey – working closely with trusted partners like Mastercard to leverage their cutting-edge technology and enhance the payments ecosystem in the country. As a technology leader, Mastercard brings a credible and unique perspective to the collaboration and enables us to deliver safe, secure and value-driven experiences for cardholders.”
Jordan Kuwait Bank will be able to reach more customers through Mastercard’s network, technology and insights, improving access to financial products and ultimately delivering safer and smarter payment solutions to more people across the country. The partnership will also unleash new business potential for both parties and reaffirm their joint commitment to the market.
Ramzy Al Amary, Country Manager, Lebanon and Levant, Mastercard, said: “As digitization positively transforms the payments landscape in Jordan, the need for safe, seamless and diversified banking products is increasing. Our partnership with Jordan Kuwait Bank will encourage growth in card usage and electronic payments, making transactions more reliable, secure, and convenient for people in the country. Together, Jordan Kuwait Bank and Mastercard will elevate the cardholder experience, drive innovation, and facilitate a trusted and seamless payment experience for all. We believe in the power of partnerships to drive digital transformation and feel confident that this long-term collaboration will support the country’s transition towards a digital economy, help build smarter cities, and pave the way for a brighter, more innovative, more inclusive future for Jordan.”