Mastercard and UWallet announce strategic partnership to drive payment innovations and financial inclusion in Jordan
11 October 2020, Amman, Jordan: Mastercard and UWallet, have announced a long-term exclusive partnership to foster digital payment innovations and advance financial inclusion across the country. As part of this landmark deal, UWallet, Umniah’s payment service provider, will offer customers innovative digital payment solutions including virtual and contactless cards, payments through mobile phones and other wearable devices, as well as loyalty programs that will bring additional value-driven offerings to consumers.
Under the partnership, Mastercard will enable a Digital-First experience within UWallet, from card application to account delivery and use, while making the plastic card optional. Through Transit Solutions, Mastercard will leverage its smart cities capabilities by enabling payments and insights to help cities and citizens move beyond the friction caused by cash and checks and lead the way in facilitating easier, faster, and efficient commuting. The partnership is also expected to expand cooperation with the public sector and facilitate payments for government services in line with the strategic objectives of the Kingdom.
Ziad Shatara, UWallet Chairman and Umniah CEO said: “This strategic partnership is part of our continuous efforts to bring advanced solutions to customers as their expectations evolve in line with technological advancements. We’re committed to leading the digital transformation journey in the region – working closely with trusted partners like Mastercard to democratize technology and embrace the digital revolution, reaching more homes and businesses. In our endeavor to pioneer innovative digital solutions that enhance day-to-day experiences, we’re working closely with partners like Mastercard to deliver products and services that speak directly to our customers’ lifestyles and changing needs.”
The COVID-19 pandemic and social distancing precautions have placed a renewed focus on technology companies, mobile phones and telecoms – keeping people informed, connected, and enabling seamless payment experiences. The partnership will allow UWallet to re-bundle and drive growth in digital financial services, ultimately bridging the digital divide.
Ramzy Al Amary, Country Manager, Levant, Mastercard, said: “This collaboration will help drive economic growth and unlock value for millions of consumers and SMEs through innovative financial services. By enabling seamless, cost effective, secure payments and a superior experience, we are driving greater inclusion for people across Jordan and the MENA region. The partnership will also allow UWallet to diversify its offering and seamlessly transition into digital commerce. We believe in the power of partnerships and are proud to collaborate with UWallet to enable a brighter, more innovative, and more inclusive future for the people of Jordan.”
UWallet is an innovative financial service provider by Umniah, which is regulated by the Central Bank of Jordan. The company enables users to safely and quickly manage all their financial transactions anywhere, anytime through their mobile phones, irrespective of their service provider.
Mastercard is also committed to powering people and small businesses through its resilient network, insights, technology, services and philanthropic support - joining forces with different stakeholders to bring more individuals and businesses into the digital economy and help, inform and enable them to sustain themselves through times of crisis.