Mastercard and FAB Unveil Partnership: EEMEA Payments

Mastercard and FAB Unveil Partnership: EEMEA Payments

Time Stamp: March 7, 2024 5:48 AM
Mastercard and FAB Unveil Partnership: EEMEA Payments PlatoBlockchain Data Intelligence. Vertical Search. Ai.

Mastercard and First Abu Dhabi Bank (FAB) have announced a global
partnership aimed at enhancing the digital payments ecosystem across the
Eastern Europe, Middle East, and Africa (EEMEA) region. The collaboration,
building on their longstanding relationship, is set to make strides in four key
markets: the UAE, Saudi Arabia, Oman, and Egypt.

The deal between Mastercard and the FAB signifies a concerted
effort to drive accelerated growth and innovation within the region. By pooling
their expertise and resources, the partners intend to introduce disruptive
products, services, and solutions tailored to the needs of consumers, SMEs, and
commercial segments. This initiative aims to provide stakeholders with
increased choice, flexibility, and benefits in their financial transactions.

“FAB and Mastercard share a commitment to spearheading
excellence while keeping our customers at the heart of everything we do. We are
excited to usher in this new era to accelerate our growth and advance digital
transformation across the region,” said Futoon Al Mazrouei, the Group Head of
Consumer Banking, UAE, FAB.

UAE-Based AI Center: Driving Innovation and Service Improvement

Utilizing cutting-edge technologies such as Artificial
Intelligence (AI), the partnership seeks to transform the customer experience
and enhance operational efficiency. Mastercard‘s Global
Center for Advanced AI and Cyber Technology, situated in the UAE, will play a
pivotal role in leveraging the power of AI to drive innovation and improve
service delivery.

“At Mastercard, we are working side by side with leading
ecosystem players to power economies, boost financial inclusion and build a
sustainable, connected world where everyone can thrive. Our global
collaboration with FAB represents a significant milestone on our shared journey
of innovation and growth,” said Khalid Elgibali, the Division President of the Middle
East and North Africa regions at Mastercard.

Mastercard and First Abu Dhabi Bank (FAB) have announced a global
partnership aimed at enhancing the digital payments ecosystem across the
Eastern Europe, Middle East, and Africa (EEMEA) region. The collaboration,
building on their longstanding relationship, is set to make strides in four key
markets: the UAE, Saudi Arabia, Oman, and Egypt.

The deal between Mastercard and the FAB signifies a concerted
effort to drive accelerated growth and innovation within the region. By pooling
their expertise and resources, the partners intend to introduce disruptive
products, services, and solutions tailored to the needs of consumers, SMEs, and
commercial segments. This initiative aims to provide stakeholders with
increased choice, flexibility, and benefits in their financial transactions.

“FAB and Mastercard share a commitment to spearheading
excellence while keeping our customers at the heart of everything we do. We are
excited to usher in this new era to accelerate our growth and advance digital
transformation across the region,” said Futoon Al Mazrouei, the Group Head of
Consumer Banking, UAE, FAB.

UAE-Based AI Center: Driving Innovation and Service Improvement

Utilizing cutting-edge technologies such as Artificial
Intelligence (AI), the partnership seeks to transform the customer experience
and enhance operational efficiency. Mastercard‘s Global
Center for Advanced AI and Cyber Technology, situated in the UAE, will play a
pivotal role in leveraging the power of AI to drive innovation and improve
service delivery.

“At Mastercard, we are working side by side with leading
ecosystem players to power economies, boost financial inclusion and build a
sustainable, connected world where everyone can thrive. Our global
collaboration with FAB represents a significant milestone on our shared journey
of innovation and growth,” said Khalid Elgibali, the Division President of the Middle
East and North Africa regions at Mastercard.

Time Stamp:

More from Finance Magnates