By The Weekly Vision Business Desk
SBM Bank Kenya has announced a strategic collaboration with Mastercard as part of its efforts to accelerate payments innovation and enhance customer experience across its service channels.
Speaking at the launch event, SBM Bank Kenya CEO Bhartesh Shah said: “This transition is more than a technology upgrade; it reflects our strategy to deliver superior customer experiences while driving sustainable growth for the bank.”
He added: “As we innovate around customer needs, such a collaboration enables us to offer world-class solutions that not only enhance convenience and security but also position the bank as a leading player in Kenya’s evolving financial landscape.”
The new Mastercard offering will feature tap-to-pay capabilities, integration with digital wallets, travel insurance, lifestyle benefits, and enhanced fraud protection, all designed to provide a smarter, safer and more rewarding payment experience.
Through the collaboration, customers will also benefit from Mastercard’s global footprint and innovations in digital payments.
Shehryar Ali, Senior Vice President and Country Manager, East Africa & Indian Ocean Islands, Mastercard, said: “We are proud to collaborate with SBM Bank Kenya in this important journey. Our shared vision is to empower customers with products and solutions that make everyday transactions seamless, extremely secure and rewarding. With SBM Bank’s customer-first approach and Mastercard’s global expertise, we are unlocking new opportunities for financial inclusion and digital transformation.”
SBM Bank has already commenced the transition to Mastercard-branded cards, with the rollout taking place in phases over the coming months. Customers will enjoy a seamless, automatic upgrade to Mastercard, ensuring uninterrupted access to banking services while unlocking new features, enhanced security and exclusive benefits, without any additional action required on their part.
The move comes at a time of strong financial performance for SBM Bank Kenya, which reported a profit after tax of KSh 202 million in the first half of this year, a significant turnaround from a loss of KSh 943.1 million over the same period last year. The strategic collaboration with Mastercard underscores the bank’s commitment to sustaining this growth trajectory by delivering innovative, customer-focused solutions that drive value and profitability.
The collaboration aims to bring enhanced global acceptance, advanced security and exclusive cardholder benefits, empowering SBM customers to transact seamlessly in Kenya’s fast-paced digital economy.
