Mastercard teams up with MENA-focused Nirvana to provide innovative payment solutions

Partnerships
American Express & Jazeera Airways partner to expand payment options for customers
This collaboration offers added convenience and access to Jazeera Airways’ wide range of travel destinations and services. Cardmembers can now easily book flights using their American Express cards through the Jazeera app. Read More>>
Network International & SerVme to offer seamless payments in the F&B industry
Network International partners with SerVme to enhance the payment process for restaurants in the Middle East and Africa. The integration allows real-time access to reservation systems and secure pre-authorizations, reducing no-shows and ensuring a seamless payment experience. Read More>>
Mastercard teams up with MENA-focused Nirvana to provide innovative payment solutions
Mastercard partners with UAE-based Nirvana Travel and Tourism to offer a secure and flexible payment solution for travelers in the UAE, Saudi Arabia, Egypt, and Jordan. The collaboration aims to enhance the customer experience and provide integrated expense management solutions for corporate clients. Read More>>

Centre Setup and Expansion
Nonghyup Bank opens branch in Noida; Yadav & Awasthi present
Nonghyup Bank in India was inaugurated in Noida, with the presence of ICA-AP Chairman Dr. Chandra Pal Singh Yadav and IFFCO MD Dr. U S Awasthi. This marks the sixth Korean bank to enter India. Read More>>
Al Rayan Bank of Qatar opens new London head office at a high-profile event
The head office will serve as the base for the bank’s board and executive management teams, offering commercial and premier banking services to customers. Read More>>

Merger and Acquisition
Euroclear completes acquisition of Goji
Euroclear to expand its reach and capabilities in private markets, offering a one-stop-shop for mutual and alternative funds, ETFs, and private market funds. The acquisition aims to streamline trading, increase accessibility, and reduce costs for private market funds. Read More>>

Executive Movements
Sallie Mae names Munish Pahwa Executive VP and Chief Risk Officer
He was previously Chief Credit Risk Officer and has over 16 years of risk experience at Bank of America and other financial institutions. Pahwa holds a doctorate in economics from the University of Delaware. Read More>>
Ajman Bank appoints Mustafa Mohammed Saeed Al Khalfawi as CEO
Al Khalfawi has over 20 years of experience in corporate and consumer banking, with a focus on innovation and customer-centricity. He aims to drive Ajman Bank’s growth and success. Read More>>

Layoff
CME Group to lay off 3% of its workforce
CME Group eliminated 100 positions, about 3% of its workforce, and plans to reallocate most to new cloud-focused technology roles. The overall headcount will remain unchanged. The move comes amid industry challenges and after positive quarterly results in April. Read More>>

Product Launch
Isracard launches rechargeable card to help young people manage expenses
The new Isracard’s Netanchik is a digitally loaded card for teens and young adults, supporting transactions up to NIS 1,000 and a monthly recharge limit of NIS 4,000. It is ideal for managing family expenses and promoting responsible money management during peak spending periods. Read More>>

Mobile Wallet Payments

• American Express Company aims to provide fast, convenient, and secure digital payment options for their customers.       
• American Express Company enables digital wallets, offering features like AutoPay and Buy Now, Pay Later, facilitating peer-to-peer payments and split purchases for easy check splitting at restaurants.       
• The firm provides personalized offers through the mobile app and allows customers to manage their finances through trusted third-party apps.

Open Banking Payments

• American Express Company strengthens small and medium-sized enterprises (SMEs) with a secure payment solution and enhances overall payment experience.      
• American Express Company is leveraging innovative solutions and strategic partnerships by embracing Open Banking Payments.   
• They aim to expand merchant acquisition, strengthen customer relationships, streamline onboarding, and promote convenient payment options for improved business transactions.

Digital Finance Management

• American Express Company enhances digital finance management for customers, providing them with improved tools and options to manage their finances effectively.       
• American Express Company explores the potential of AI for data sharing agreements, expediting transaction approval, analyzing customer interaction data and sentiment, and credit approval based on historical trends to make more informed decisions and streamline the credit evaluation process.

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