Mastercard and LuLu Group Expand Partnership for Sustainability and Innovation
Mastercard and LuLu Group are expanding their decade-long partnership to enhance sustainability, innovation, and efficiency in retail payments across the Gulf region. The collaboration, which now includes Saudi Arabia, will integrate Mastercard’s expertise into LuLu Group’s operations, advancing efficiencies, scale, and data-driven decision-making.
A Decade of Collaboration
The partnership between Mastercard and LuLu Group has spanned over ten years, initially marked by the launch of their first co-branded credit card in 2013. This collaboration has consistently evolved, introducing various initiatives to meet the changing needs of consumers in the region.
Extending across Bahrain, Kuwait, Oman, Qatar, the UAE, and now Saudi Arabia, the partnership will leverage Mastercard’s technological innovations to enhance LuLu Group’s offerings. This expansion aims to provide more efficient and sustainable payment solutions.
Sustainable and Cashless Payment Solutions
The partnership focuses heavily on sustainability and cashless transactions. The companies will introduce revamped features such as digital in-store transactions, personalised rewards, and generous cashback offers at LuLu stores.
For the first time, LuLu will deploy the Mastercard Next Gen Point of Interaction (POI) solution, allowing consumers to make cardless payments at self-checkout counters. This innovative technology is set to enhance the shopping experience by offering more convenience and speed.
Enhancing Co-branded Credit Cards
The partnership will continue to offer a portfolio of co-branded credit cards through banking partners across the Gulf region, including Abu Dhabi Commercial Bank in the UAE, Bank Muscat in Oman, CrediMax in Bahrain, Doha Bank in Qatar, Emirates NBD in the UAE, and Gulf Bank in Kuwait. Plans are also in place to expand into Saudi Arabia.
Amnah Ajmal, Executive Vice President of Market Development, EMEA at Mastercard, expressed enthusiasm about the partnership, stating: “We are delighted to embark on this transformative journey with LuLu Group, a valued partner, who shares our vision for a more sustainable and inclusive future. 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.”
LuLu Group’s Vision
Saifee Rupawala, CEO of LuLu Group International, highlighted the importance of personalising offerings to meet customers’ needs, saying: “Being able to personalise our offerings to better suit our customers’ needs, is key for LuLu Group’s growth and future ambitions. Our partnership with Mastercard enables us to do this, driving our business forward. It will also enhance the rewards and advantages we are able to offer via our co-branded credit card partner network across the region.”
Conclusion
The extended partnership between Mastercard and LuLu Group marks a significant step towards a more sustainable, innovative, and efficient retail payment ecosystem in the Gulf region. Both companies are poised to transform the shopping experience and drive business growth by integrating advanced technology and focusing on customer-centric solutions.
