Mastercard, a global leader in payments technology, has partnered with LikeCard, a leading e-commerce prepaid card platform in the Middle East and North Africa (MENA) region, to launch an innovative family banking solution.
The collaboration aims to enhance financial literacy and promote responsible spending among families.
The partnership seeks to provide parents and children with a seamless, secure digital banking experience. By integrating AI-driven financial tools into a simple smartphone application, the platform enables families to track expenses, set spending limits, and develop money management skills.
The initiative is designed to empower children with essential financial knowledge while offering parents real-time oversight of their family’s financial activities.
Mastercard is a multinational payment solutions company that facilitates electronic transactions across the globe. With a focus on digital innovation, it provides secure and scalable financial solutions to individuals, businesses, and governments.
LikeCard, on the other hand, is a prominent MENA-based e-commerce platform offering prepaid digital cards for online purchases, gaming, and entertainment services.
The new platform features an Earn, Spend, and Save function, allowing children to earn rewards for completing tasks, set savings goals, and develop responsible money habits. This approach encourages financial education in a practical and interactive way, reinforcing positive financial behaviour among young users.
Beyond basic banking functionalities, the solution also includes personalised savings opportunities such as cashback rewards and discounts on education, entertainment, health services, and virtual investments. Additionally, families can access financial products like installment plans and lending solutions, helping them manage expenses more effectively.
“At Mastercard, we believe financial literacy is the foundation of economic empowerment. By partnering with LikeCard, we are equipping families across MENA with the knowledge and tools to build responsible financial futures. This solution reimagines banking for the digital age, fostering smarter spending and saving habits for the ‘digital natives’ generation,” said Muhammad Nana, senior vice president, digital partnerships and enablers, Mastercard EEMEA.
“LikeCard was founded to bridge financial access gaps with innovative, user-friendly digital solutions. Our collaboration with Mastercard brings an AI-driven family banking experience to the region, empowering families with financial literacy tools while enhancing security and convenience,” said Ammar Alsoos, CEO, LikeCard.
By embedding financial education and responsible spending tools into daily life, Mastercard and LikeCard are helping families across the MENA region build a smarter, more secure financial future together.
