Mastercard has partnered with Bankiom, a UAE-based banking app, to launch virtual prepaid cards across the Gulf Cooperation Council (GCC) region. This collaboration aims to drive digitalization and financial inclusion in the GCC countries.
Facts
- Mastercard and Bankiom are collaborating to launch virtual prepaid cards across the GCC region.
- The partnership aims to drive digitalization in the payments landscape throughout the Gulf Cooperation Council (GCC) region.
- The GCC region has one of the world’s highest rates of internet penetration, with 98% of the population having access.
- The partnership between Mastercard and Bankiom will leverage innovative payment solutions to promote digital and financial inclusion in the region.
- Bankiom, founded in 2019 and launched in March 2022, offers a mobile banking app and a prepaid card for online purchases.
- Bankiom currently has more than 30,000 verified users and is growing at a rate of 20% per week.
- Bankiom aims to reach one million customers within three years.
