Mastercard Incorporated (NYSE:MA) has joined forces with Abu Dhabi Commercial Bank (ADCB) and Talabat UAE, an online food ordering platform, to introduce the Talabat ADCB Mastercard Credit Card. Despite broader market declines on September 14, Mastercard’s shares dipped 0.7%.
The Talabat ADCB Mastercard Credit Card can be conveniently applied for digitally through the Talabat app. These co-branded credit card launches are part of Mastercard’s strategy to provide enhanced benefits and options to its cardholders, including enticing rewards for everyday delivery orders.
This collaboration underscores Mastercard’s commitment to facilitating safe and seamless digital transactions, particularly in the Middle East and North Africa (MENA) region, where the shift to e-commerce for food and grocery delivery is gaining momentum. The presence of a tech giant like Mastercard, which has built a robust digital ecosystem through partnerships and significant technology investments, instills confidence and security in MENA consumers, delivery drivers, and restaurants, driving the adoption of digital payments.
Efforts like this one contribute to the expansion of Mastercard’s payment network, a crucial component of its goal to offer greater choice and flexibility in transactions through various payment methods, including cards, real-time payments, account-to-account transactions, and cryptocurrencies. Increased usage of Mastercard’s card offerings has the potential to boost transaction volumes and revenue for the tech giant.
Beyond advancing digitization in the MENA region’s payment landscape, this card launch strengthens the partnership between Mastercard and Delivery Hero. This collaboration, initiated in 2020, entrusted Mastercard with the task of digitizing the payment processes for Delivery Hero’s brands operating across the MENA region. Notably, food orders made on Delivery Hero’s apps using Mastercard-branded cards more than doubled from 2020 to 2022 in the region.
Mastercard’s strategic focus on establishing a strong presence in the rapidly growing digital economy of the MENA region, driven by increased internet penetration and smartphone usage, positions the company well to leverage its suite of affordable payment solutions.
In addition to this recent announcement, Mastercard also partnered with Somalia’s Amal Bank to introduce Classic and Platinum debit cards, aiming to promote digital adoption in the MENA nation.
Over the past year, Mastercard’s shares have gained 31.2%, outperforming the industry’s growth rate of 17.1%.
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