The UAE’s largest bank, First Abu Dhabi Bank (FAB) has signed a five-year strategic partnership deal with global payments technology leader Mastercard to make business-to-business (B2B) payments seamless, secure and convenient for companies in the UAE.
With this deal, Mastercard’s commercial cards and payment platforms will be made available to FAB customers, along with a wide range of product benefits addressing the requirements of businesses and their employees.
The partnership gives customers an opportunity to benefit from Mastercard’s ‘In Control solution’, an exclusive platform that aids corporates to organize their card payments and improve their cash flow while ensuring advanced security.
FAB will also launch the Mastercard Purchase Card, which will offer smart data and virtual card capabilities allowing commercial and government payments. The bank will further offer a range of Mastercard Travel and Entertainment Cards that helps corporates to empower their employees to make business-related expenditures in a safe and rewarding manner.
“Commercial payment is an increasing area of focus for FAB and we are constantly working towards developing advanced solutions that enable our customers to make payments digitally, in a safe and secure manner. As we continue to build on our position in the payments space, our partnership with Mastercard allows us to serve businesses through their leading digital solutions. This move is a testament to our commitment to support both our customers and wider economic recovery.”
“First Abu Dhabi Bank has long been a strategic partner of Mastercard in the UAE. The COVID-19 pandemic has changed the way business is done across all sectors, and B2B payments are ripe for modernization and enhanced efficiencies. This partnership will address the challenges that traditional channels pose for UAE businesses by making corporate payments simpler, more secure and convenient,” says Girish Nanda, Mastercard’s Country Manager of UAE & Pakistan.