I&M Bank and Mastercard Launch Business Credit Card Proposition to Transform Business Expenses Management I&M Bank has partnered with Mastercard to introduce a groundbreaking Business Credit Card proposition aimed at revolutionizing the management of business expenses. This collaborative effort signifies a significant milestone in the enduring relationship between I&M Bank and Mastercard. The Business Credit Card proposition includes the Business Credit Card and the World Business Credit Card, tailored to cater to the needs of Business and Corporate Banking segments.
Celebrating its 50th anniversary this year, I&M Bank has strategically focused on expanding its presence across diverse market segments. This initiative solidifies the bank’s position as a leader in corporate and institutional banking, underlining its commitment to customer-centric banking practices.
The I&M Bank Mastercard Business and World Business Credit Cards are designed to streamline day-to-day operational costs for businesses, offering comprehensive solutions such as business travel, entertainment expenses, and more. Cardholders benefit from enhanced financial management capabilities, including higher credit limits that facilitate improved cash flow and support for building business credit essential for accessing future financing.
“I&M Bank is dedicated to delivering innovative financial solutions that drive growth and efficiency,” stated Gul Khan, CEO of I&M Bank. “Our partnership with Mastercard has been pivotal, and with this new Business Credit Card proposition, we aim to simplify financial management for businesses while enhancing their operational capabilities. As we celebrate our 50th anniversary, we are delighted to introduce a product that not only meets but exceeds our customers’ expectations.”
Shehryar Ali, Senior Vice President and Country Manager for East Africa and Indian Ocean Islands at Mastercard, added, “At Mastercard, we empower businesses by providing them with advanced tools necessary for thriving in the digital economy. The launch of these business credit cards in collaboration with I&M Bank underscores our commitment to fostering innovation and financial inclusivity. Through secure and rewarding payment solutions, we enable businesses to grow and contribute significantly to the economic development of Kenya and the region.”
The Business Credit Card proposition enhances accountability through advanced expense management tools and real-time transaction alerts, offering transparency across companywide, departmental, and individual expenditures. Moreover, the cards provide access to exclusive merchant offers, including discounts on hotels, car rentals, and global e-commerce platforms. Companies can set customizable spending limits on each card, ensuring disciplined and monitored spending by employees.
The integration of expense management tools simplifies bookkeeping and petty cash management, complemented by user-friendly self-service features that empower cardholders to manage their accounts conveniently and securely through the I&M On-The-Go (OTG) Mobile and Internet Banking platform.
By harnessing Mastercard’s cutting-edge technology and leveraging I&M Bank’s extensive local network, this initiative aims to empower businesses with seamless and secure payment solutions, promoting digital and financial inclusion across SMEs and corporate entities alike.
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