I&M Bank has collaborated with Mastercard to launch the new Business Credit Card proposition. The proposition is a financial tool designed to help businesses manage daily expenses more effectively and support global operations. The Business Card proposition comprises the Business Credit Card and the World Business Credit Card targeted at Business and Corporate Banking segments.
The Bank, which is celebrating its 50th anniversary this year, has been on a strategy to grow its relevance in existing and emerging market segments. This proposition cements the lender’s position as a leader in the corporate and institutional banking space and their efforts towards intuitive banking through keen customer listening.
I&M Bank’s Mastercard Business and World Business Credit Cards are tailored to meet the diverse needs of companies looking to effectively manage employee operational costs. This is by offering multiple solutions in one card for business related travel, entertainment and other miscellaneous expenses while employees experience financial and lifestyle benefits including seamless purchase of air tickets, hotel stays, concierge services and entertainment.
The card is expected to improve cash flow by offering higher credit limits without financial strain and help in building business credit. This is essential for securing loans and other financing options. Additionally, its credit limits support business growth, while exclusive access to Mastercard Priceless offers and services enhances the user experience.
Speaking at the launch of the new Business Credit Card, Gul Khan, CEO of I&M Bank said, “I&M Bank is committed to providing our clients with innovative financial solutions that drive growth and efficiency. Our business relationship with Mastercard has been instrumental to our business over the years and continues to thrive as we deliver products that meet customer needs. As we celebrate our 50th anniversary, we are happy to launch the Business Credit Card product proposition that not only simplifies financial management for businesses but also provides.”
On his part, Mastercard’s Senior Vice President and Country Manager for East Africa and Indian Ocean Islands Shehryar Ali stated, “At Mastercard, we aim to empower businesses with the tools they need to succeed in a digital economy. The launch of these business credit cards with I&M Bank shows our commitment to fostering innovation and financial inclusivity. By offering secure, efficient, and rewarding payment solutions, we enable businesses to grow and contribute to the economic development of Kenya and the region.”
By leveraging Mastercard’s technology and I&M Bank’s local network, this new offering supports businesses with payment solutions, enhancing digital and financial inclusion for SMEs and businesses. With seamless and secure payment solutions, the two entities aim to empower individuals and businesses to reach their full potential.