Nairobi — SBM Bank Kenya has partnered with digital payments enabler Mastercard in what the lender says is anchored on widening global transaction capabilities and supporting its ongoing turnaround efforts.
The bank said the transition, which will see customers migrated in phases to Mastercard-branded cards, is aimed at boosting payment security, global acceptance, and integration with digital wallets.
The rollout includes tap-to-pay features, travel insurance, fraud protection, and other add-ons linked to Mastercard's international network.
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"This transition is more than a technology upgrade; it reflects our strategy to deliver superior customer experiences while driving sustainable growth for the bank," said SBM Bank Kenya CEO Bhartesh Shah.
"As we innovate around customer needs, such a collaboration enables us to offer world-class solutions that not only enhance convenience and security but also position the bank as a leading player in Kenya's evolving financial landscape."
Mastercard's Senior Vice President and Country Manager for East Africa and Indian Ocean Islands, Shehryar Ali, said, "Our shared vision is to empower customers with products and solutions that make everyday transactions seamless, extremely secure, and rewarding. With SBM Bank's customer-first approach and Mastercard's global expertise, we are unlocking new opportunities for financial inclusion and digital transformation."
The changeover comes as SBM Bank records improved financial performance, posting a profit after tax of Sh202 million in the first half of the year, reversing a Sh943.1 million loss over the same period in 2024.
The lender seeks to leverage global payment infrastructure to grow its retail segment and compete more aggressively in Kenya's rapidly expanding cashless economy.
