Mastercard and LikeCard, an e-commerce prepaid card platform based in Dubai, have partnered to introduce a family banking solution aimed at improving financial literacy and responsible spending.
The initiative provides parents and children with a secure digital banking experience to support better financial decision-making.
The solution, which integrates AI-powered financial tools within a smartphone app, enables families to track expenses, set spending limits, and teach children essential money management skills.
Parents can monitor transactions in real-time, while children develop financial awareness through interactive learning and reward-based features.
“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.
The platform’s ‘Earn, Spend, and Save’ feature allows children to receive rewards for completing chores, set savings goals, and develop responsible financial habits.
“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 of LikeCard.
Beyond banking, the solution offers personalised savings options, including cashback rewards and discounts on education, entertainment, healthcare, and virtual investments.
Families can also access financial products such as instalment plans and lending solutions to help manage expenses and plan for the future.
Featured image credit: Mastercard
