Mastercard and Bankiom to issue virtual cards across GCC

By Leandra Monteiro

Mastercard is partnering with Bankiom, a UAE-based lifestyle banking app, to introduce digital payment cards across the UAE, Saudi Arabia, Bahrain, Kuwait, and Oman.

This partnership marks a significant stride in Mastercard’s ongoing commitment to advancing digitalisation in the payments landscape throughout the region.

“As we move into a more digital world, building productive synergies with multi-market, agile fintech partners such as Bankiom is crucial. The GCC alone has one of the world’s highest rates of internet penetration at 98% of the region’s population. Our partnership will help us leverage our innovative payment solutions to drive digital and financial inclusion across the region,” said Amnah Ajmal, Executive Vice President Market Development, EEMEA, Mastercard.

“Bankiom is building a digital bank for that moment in your life where you want to live life to the max, and we’re calling it PuraVida. Think of it as a subscription to the ‘good life’. Our mission is to spread happiness through financial services; so partnering with Mastercard, especially with their Priceless brand, was a no brainer for us. We both share the same mission and we both share the same passion to deliver amazing, memorable life experiences for our customers,” said Danny Abla, Founder of Bankiom.

Launched in March 2022, Bankiom has more than 30,000 verified users and is growing at 20% per week, with a target to hit 1 million within three years. Bankiom, through PuraVida and in collaboration with Mastercard, is tapping into the evolving needs of a vibrant, tech-savvy generation and empowering them to live life to the fullest.