I&M Bank and Mastercard Launch Business Credit Card for SMEs

I&M Bank Ltd has teamed up with Mastercard to launch a new Business Credit Card for SMEs designed to streamline expense management for businesses. This latest offering strengthens the long-standing relationship between I&M Bank and Mastercard, aiming to provide a comprehensive financial tool to support daily business operations and enhance global reach.

Highlights of the Business Credit Card for SMEs

• Streamlined Expense Management: The card covers business travel, entertainment, and miscellaneous expenses, offering higher credit limits to improve cash flow.
• Employee Benefits: Cardholders can enjoy seamless purchases for air tickets, hotel stays, concierge services, and entertainment, along with exclusive Mastercard Priceless offers.
• Enhanced Security and Control: The card offers advanced security features through I&M’s On-The-Go (OTG) Mobile and Internet Banking platform, including PIN management and a lock/unlock facility.
• Increased Accountability: Expense management tools and transaction alerts provide better visibility and control over company-wide, departmental, and individual expenses.

Gul Khan , CEO of I&M Bank, expressed enthusiasm about the partnership, stating, “Our collaboration with Mastercard has been pivotal. As we celebrate our 50th anniversary, we’re excited to launch this product that simplifies financial management for businesses.”

Shehryar Ali, Mastercard’s Senior Vice President and Country Manager for East Africa, highlighted the significance of the new credit card, saying, “This launch demonstrates our commitment to fostering innovation and financial inclusion. We aim to empower businesses to grow and contribute to the economic development of Kenya and the region.”

By leveraging Mastercard’s cutting-edge technology and I&M Bank’s extensive local network, this new credit card supports SMEs and businesses with advanced payment solutions, enhancing digital and financial inclusion.

The card is designed to help businesses reduce costs and increase efficiency, providing better visibility on expenses through management tools and transaction alerts. Additionally, it offers a variety of merchant discounts on hotels, car rentals, and e-commerce platforms globally. Companies can set and adjust spending limits for each card, ensuring controlled spending by employees.

The expense management tools also facilitate simplified bookkeeping and petty cash management, while self-service features enable cardholders to view balances and make payments conveniently. Security is ensured through enhanced controls using the I&M OTG Mobile and Internet Banking platform.

The new Business Credit Card by I&M Bank and Mastercard is set to transform how SMEs manage expenses, providing the financial tools they need to thrive and grow.