Mastercard and First Abu Dhabi Bank (FAB) have joined forces in a global partnership to enhance the digital payments ecosystem in Eastern Europe, the Middle East, and Africa (EEMEA). This collaboration, which builds on their longstanding relationship, aims to make significant strides in key markets such as the UAE, Saudi Arabia, Oman, and Egypt.
The deal between Mastercard and FAB signifies a shared commitment to driving accelerated growth and innovation in the region. Through the pooling of their expertise and resources, the partners plan to introduce disruptive products, services, and solutions tailored to the needs of consumers, SMEs, and commercial segments. The ultimate goal of this initiative is to provide stakeholders with increased choice, flexibility, and benefits in their financial transactions.
Futoon Al Mazrouei, Group Head of Consumer Banking, UAE, FAB, expressed excitement about ushering in a new era of growth and digital transformation across the region. The partnership plans to utilize cutting-edge technologies like Artificial Intelligence (AI) to transform the customer experience and enhance operational efficiency. Mastercard’s Global Center for Advanced AI and Cyber Technology, based in the UAE, will play a pivotal role in leveraging the power of AI to drive innovation and improve service delivery.
Khalid Elgibali, Division President, Middle East and North Africa, Mastercard, highlighted the importance of collaborating with ecosystem players to power economies, boost financial inclusion, and create a sustainable, connected world where everyone can thrive. This global partnership between Mastercard and FAB represents a significant milestone in their shared journey of innovation and growth.