Mastercard, a global leader in payment technology, has partnered with LikeCard, a leading prepaid card e-commerce platform in the Middle East and North Africa (MENA), to introduce an innovative AI-driven family banking solution. This digital platform is designed to enhance financial literacy, encourage responsible spending, and simplify money management for families.
Smart Financial Tools for Families
The platform integrates AI-powered financial management tools into an intuitive mobile app, allowing parents and children to track expenses, set spending limits, and develop smart money habits. It provides a secure, seamless banking experience, ensuring parents have real-time visibility while enabling children to build financial responsibility.
With an Earn, Spend, and Save system, children can earn rewards for completing tasks, set savings goals, and learn responsible spending habits. This hands-on approach makes financial education more engaging and practical.
Exclusive Features & Benefits
Beyond basic banking services, the platform offers:
- Cashback rewards and discounts on education, entertainment, healthcare, and virtual investments.
- Installment plans and lending solutions to help families manage expenses effectively.
Industry Leaders on Financial Inclusion
Muhammad Nana, Senior Vice President of Digital Partnerships and Enablers at Mastercard EEMEA, highlighted the importance of financial literacy:
“Financial literacy is the foundation of economic empowerment. Through our collaboration with LikeCard, we’re equipping families in MENA with the tools and knowledge needed to build smart financial habits in the digital era.”
Ammar Alsoos, CEO of LikeCard, emphasized the company’s mission to provide accessible financial solutions:
“LikeCard is committed to bridging financial access gaps with user-friendly digital solutions. Partnering with Mastercard allows us to introduce an AI-powered family banking experience that enhances financial literacy while ensuring security and convenience.”
Building a Smarter Financial Future
By integrating financial education into everyday life, Mastercard and LikeCard are helping families across MENA develop responsible money habits. This initiative fosters financial awareness, security, and smarter spending for the next generation.
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