Mastercard, Spire Team on MENA Digital Banking

Date:

Share post:


Mastercard has recently collaborated with Spire, which provides open banking for the Gulf Cooperation Council, to help improve digital banking for the region, according to a Wednesday (June 22) press release.

This will integrate Mastercard’s Merchant Identifier solution with Spire’s “Ingage,” an artificial intelligence (AI)-equipped financial well-being platform. Through the integration, the solution will provide real-time merchant data, spread across diverse categories for both customers and banks.

Customers will get more understanding of their transactional details, and banks will be able to save time because they’ll have less need to verify statements due to less inquiries from customers, per the release.

Spire is reportedly focused on helping out with managing consumer finances, and working on decision making through a suite of insights and services for retail banking customers.

The companies said the integration will also help bring more people and businesses into the new digital economy, along with expanding Mastercard’s presence in the open banking world. Mastercard purports that open banking offers “a varied set of choices, enhanced services and seamless outcomes.”

Mastercard will also be expanding its travel and lifestyle platform, including services that include a partnership with WhatsApp, PYMNTS wrote. The services also include COVID alerts and access to airport lounges during flight delays.

See also: Mastercard Teams With WhatsApp on Expanded Travel Services

Mastercard Travel & Lifestyle Services is a travel planning and booking platform that provides the company’s World and World Elite cardholders with some exclusive guarantees, upgrades and various services not usually offered, like concierge services and new entertainment from travel brands.

The expanded version will come with WhatsApp servicing and allow members to talk with lifestyle managers about travel plans and other things using their phones.

“Many of us eagerly await the chance to satisfy our love for travel, but it can be stressful to plan a trip with so many uncertainties about what traveling will look like,” Stephanie Meltzer-Paul, executive vice president, global loyalty, said in a company announcement.

——————————

NEW PYMNTS DATA: THE TAILORED SHOPPING EXPERIENCE STUDY – MAY 2022

About: PYMNTS’ survey of 2,094 consumers for The Tailored Shopping Experience report, a collaboration with Elastic Path, shows where merchants are getting it right and where they need to up their game to deliver a customized shopping experience.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

spot_img

Related articles

A Cooper Rush vs. Dak Prescott ‘QB controversy’

The Dallas Cowboys are undefeated since Cooper Rush became their starting quarterback following Dak Prescott’s Week 1...

EU approves German state funding of BASF renewable hydrogen bid | News | DW

The European Commission's antitrust chief Margrethe Vestager on Monday signed off on the German government's plan to...

Blue Jackets release James Neal from PTO

James Neal’s hopes of earning an NHL contract with the Columbus Blue Jackets are over.Coach Brad Larsen...

Nelson Cruz’s motivation to return to MLB in 2023

It's been a rough season for Nelson Cruz. But the 42-year-old MLB veteran isn't ready to hang...
English English Somali Somali