Mastercard and LikeCard Unveil Innovative AI-Driven Family Banking Solution to Boost Financial Literacy in MENA

Mastercard and LikeCard Unveil Innovative AI-Driven Family Banking Solution to Boost Financial Literacy in MENA

Mastercard has teamed up with LikeCard to introduce an innovative family banking solution aimed at enhancing financial literacy and responsible spending among families in the MENA region. This collaboration is set to provide a seamless and secure digital banking experience for both parents and children, making it easier to manage finances.

Empowering Families with Digital Banking

The partnership between Mastercard and LikeCard is focused on integrating AI-driven financial tools into a user-friendly smartphone application. This new platform will enable families to:

  • Track expenses easily
  • Set spending limits for children
  • Develop money management skills from an early age

Features of the Family Banking Solution

The innovative family banking solution offers a variety of features designed to promote financial education, including:

  • Earn, Spend, and Save: Children can earn rewards for completing tasks, set savings goals, and learn responsible money habits.
  • Personalized savings opportunities: Cashback rewards and discounts on education, entertainment, and health services.
  • Access to financial products: Families can utilize installment plans and lending solutions to manage their expenses efficiently.

Statements from Leadership

According to Muhammad Nana, Senior Vice President of Digital Partnerships at Mastercard EEMEA: “At Mastercard, we believe financial literacy is the foundation of economic empowerment. By partnering with LikeCard, we are equipping families across MENA with the knowledge and tools to build responsible financial futures.”

Ammar Alsoos, CEO of LikeCard, added: “Our collaboration with Mastercard brings an AI-driven family banking experience to the region, empowering families with financial literacy tools while enhancing security and convenience.”

Conclusion

With this initiative, Mastercard and LikeCard are paving the way for families in the MENA region to build a smarter and more secure financial future. By embedding financial education and responsible spending tools into daily life, they are fostering positive financial habits among the younger generation. For more information, visit Mastercard’s official website or learn about LikeCard’s offerings.

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