Mastercard and LuLu Group have announced the expansion of their decade-long partnership in the retail sector, focusing on sustainability, innovation, and efficiency in payments. This collaboration will span six markets, including Bahrain, Kuwait, Oman, Qatar, UAE, and now Saudi Arabia. The integration of Mastercard’s expertise into LuLu Group’s operations is set to advance efficiencies, scale, and data-driven decision-making.
According to industry sources, the collaboration will drive a variety of projects, including sustainability initiatives, co-branded credit card portfolios, and innovative technology enhancements. Key benefits of this partnership will include digital in-store transactions, cashless experiences, personalized rewards, and generous cashback offers on spends at LuLu stores. Notably, LuLu will pilot the Mastercard Next Gen Point of Interaction (POI) solution, allowing consumers to make cardless payments at self-checkout counters for the first time.
Amnah Ajmal, Executive Vice President, Market Development, EEMEA, Mastercard, expressed enthusiasm about the partnership: “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.”
Saifee Rupawala, CEO of LuLu Group International, highlighted the benefits for their customers: “Being able to personalize 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. As payments technology continues to offer new possibilities, we look forward to the next stage of our relationship with Mastercard.”
Industry sources also noted that the partnership will continue to offer a portfolio of co-branded credit cards through partners 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, with plans to expand into Saudi Arabia.
The two firms have spent over a decade collaborating and innovating to meet the evolving needs of consumers in the region. The first co-branded credit card was launched in 2013, followed by numerous initiatives that have strengthened relationships with various co-brand issuer partners.
