The partnership will introduce revamped features and benefits, such as digital in-store transactions and more cashless experiences, as well as personalized rewards and generous cashback offers on spends at LuLu stores.
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MastercardFollowing a decade-long partnership in the retail sector, Mastercard and LuLu Group join hands to foster sustainability, innovation, and efficiency in payments across multiple markets.
Extending across six markets, including Bahrain, Kuwait, Oman, Qatar, UAE and now Saudi Arabia, the partnership will see an integration of Mastercard’s expertise into Lulu Group’s operations, advancing efficiencies, scale, and data-driven decision-making. Projects that will benefit from the collaboration, include a variety of sustainability initiatives, co-branded credit card portfolios, and innovative technology enhancements.
The partnership will introduce revamped features and benefits, such as digital in-store transactions and more cashless experiences, as well as personalized rewards and generous cashback offers on spends at LuLu stores. Being piloted for the first time, LuLu will also deploy the Mastercard Next Gen Point of Interaction (POI) solution, allowing its consumers to make cardless payments at its self-checkout counters.
“We are delighted to embark on this transformative journey with LuLu Group, a valued partner, who shares our vision for a more sustainable and inclusive future. Our partnership will enable us to enhance the Mastercard co-branded credit card experience and support LuLu in leveraging technology and innovation to boost their offerings,” said Amnah Ajmal, Executive Vice President, Market Development, EEMEA, Mastercard.
The companies will continue to offer a portfolio of co-branded credit cards via partners including Abu Dhabi Commercial Bank in the UAE, Bank Muscat in Oman, CrediMax in Bahrain, Doha Bank in Qatar, Emirates NBD in the UAE, and Gulf Bank in Kuwait. There are also plans for expanding into Saudi Arabia.
“Being able to personalize our offerings to better suit our customers’ needs, is key for Lulu Group’s growth and future ambitions. Our partnership with Mastercard enables us to do this, driving our business forward. It will also enhance the rewards and advantages we are able to offer via our co-branded credit card partner network across the region. As payments’ technology continues to offer new possibilities, we look forward to the next stage of our relationship with Mastercard,” said Saifee Rupawala, CEO, LuLu Group International.
The two organizations have spent over a decade collaborating and innovating to meet the evolving needs of consumers in the region. In 2013, a first co-branded credit card was launched, which was later followed by other initiatives that strengthened relationships with various co-brand issuer partners.
About Mastercard (NYSE: MA)
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.
Source: Mastercard
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