Mastercard, LuLu Group partner to foster sustainability in GCC’s retail payments

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UAE - Mastercard has entered into a partnership with LuLu Group to boost sustainability, innovation, and efficiency in retail payments across the six GCC markets.

The partnership, extending across Bahrain, Kuwait, Oman, Qatar, UAE, and Saudi Arabia—will integrate Mastercard’s expertise into LuLu Group’s operations, enhancing efficiencies, scale, and data-driven decision-making, according to a press release.

The collaboration will support various projects, including sustainability initiatives, co-branded credit card portfolios, and innovative technology enhancements.

New features and benefits introduced by the partnership include digital in-store transactions, increased cashless experiences, personalised rewards, and cashback offers at LuLu stores.

Additionally, LuLu will pilot the Mastercard Next Gen Point of Interaction (POI) solution, allowing consumers to make cardless payments at self-checkout counters.

Furthermore, LuLu and Mastercard pledged to maintain their portfolio of co-branded credit cards through partners including Abu Dhabi Commercial Bank (ADCB) in the UAE, Bank Muscat in Oman, CrediMax in Bahrain, Doha Bank in Qatar, Emirates NBD in the UAE, and Gulf Bank in Kuwait.

The two companies announced that they are planning to expand into Saudi Arabia.

Amnah Ajmal, Executive Vice President for Market Development, EEMEA, at Mastercard, said “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.”

Saifee Rupawala, CEO of LuLu Group International, stated: “Being able to personalise our offerings to better suit our customers’ needs, is key for Lulu Group’s growth and future ambitions… As payments’ technology continues to offer new possibilities, we look forward to the next stage of our relationship with Mastercard.”

In June 2024, Mastercard signed a strategic deal with urpay, a digital wallet powered by neolaep, to provide access to a wide range of cross-border payment solutions in Saudi Arabia.