Mastercard and LuLu Group partnership to drive sustainability, innovation and efficiency in retail payments
Companies will continue to offer a portfolio of co-branded credit cards via partners
Dubai: Following a decade-long partnership in the retail sector, Mastercard and LuLu Group join hands to foster sustainability, innovation, and efficiency in payments across multiple markets.
The partnership will integrate Mastercard's expertise into Lulu Group's operations across six markets, including Bahrain, Kuwait, Oman, Qatar, UAE, and now Saudi Arabia.
Projects that will benefit from the collaboration include a variety of sustainability initiatives, co-branded credit card portfolios, and innovative technology enhancements.
The partnership will introduce revamped features and benefits, such as digital in-store transactions and more cashless experiences. LuLu will also deploy the Mastercard Next Gen Point of Interaction (POI) solution, allowing its consumers to make cardless payments at its self-checkout counters.
Amnah Ajmal, EVP of Market Development, EEMEA at Mastercard, said: "We are delighted to embark on this transformative journey with LuLu Group, a valued partner, who shares our vision for a more sustainable and inclusive future. Our partnership will enable us to enhance the Mastercard co-branded credit card experience and support LuLu in leveraging technology and innovation to boost their offerings."
The companies will continue to offer a portfolio of co-branded credit cards via partners, including Abu Dhabi Commercial Bank in the UAE, Bank Muscat in Oman, CrediMax in Bahrain, Doha Bank in Qatar, Emirates NBD in the UAE, and Gulf Bank in Kuwait. Plans are also in place to expand into Saudi Arabia.
Saifee Rupawala, CEO, LuLu Group International, said: "Being able to personalize our offerings to better suit our customers' needs, is key for Lulu Group's growth and future ambitions. Our partnership with Mastercard enables us to do this, driving our business forward. It will also enhance the rewards and advantages we are able to offer via our co-branded credit card partner network across the region. As payments' technology continues to offer new possibilities, we look forward to the next stage of our relationship with Mastercard."