Mastercard Incorporated (NYSE:MA) has renewed its strategic partnership with CrediMax, a prominent financial institution in Bahrain, to further strengthen its presence in the Kingdom’s financial landscape.
Under Mastercard’s Digital First program, consumers are offered a wide array of payment options, including e-commerce, contactless, and QR payments, utilizing their preferred digital devices. This program empowers consumers by providing them with greater control over their financial management while ensuring enhanced security measures.
The partnership with CrediMax enables Mastercard to leverage its Digital First program and meet the evolving demands of customers in Bahrain, expanding its influence in the market.
The collaboration between Mastercard and CrediMax will encompass various initiatives, such as the implementation of Mastercard’s cyber intelligence solutions to enhance payment security and intelligence. Additionally, the partnership will focus on digitizing payments for consumers and corporations, as well as introducing new value-added products and services to enhance CrediMax’s card offerings.
This partnership will not only strengthen CrediMax’s offerings but also position Mastercard as a trusted technology partner. It will facilitate broader access to the digital ecosystem for consumers, small businesses, financial institutions, and governments in Bahrain.
Mastercard has consistently relied on strategic alliances to drive growth, diversify its revenue streams, and expand its market reach. These partnerships have complemented its organic efforts, strengthened its core product solutions, and generated new revenue streams. The company’s strong market position, attractive core business, and ongoing initiatives, including its digital strategy and geographic expansion, instill optimism for long-term growth. Mastercard estimates low-teens growth in net revenues for 2023.
Shares of Mastercard have demonstrated positive performance, with a 15.2% increase over the past year, outpacing the industry’s growth of 13.8%.
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Author Stephanie Bédard-Châteauneuf 
