Mastercard has expanded its partnerships in the Middle East.
In this case, the mentioned payment industry giant’s business relationship is implied with Emirates NBD, a banking group operating in the Middle East, North Africa, and Turkey, and with Checkout.com in the United Arab Emirates.
Emirates NBD will integrate Mastercard Gateway with its payment platform. The mentioned functional platform, called Emirates NBD Pay, will support transactions across the region and make the banking group the first acquiring bank globally. In this case, it is also envisaged that customers will be offered access to Mastercard’s Brighterion artificial intelligence technology through integration. The relevant information was published on the website of the giant of the payment industry.
Gina Petersen-Skyrme, country manager, United Arab Emirates and Oman at Mastercard, stated that the integration of the cutting-edge platform into the bank’s systems will simplify payment processes for online merchants, allowing them to offer customers faster, safer, and seamless transaction experience.
Mastercard Gateway provides businesses with a single connection and easy integration with a global payment gateway. Brighterion AI provides artificial intelligence protection for the payments ecosystem. The relevant information was published on the Mastercard website.
Checkout.com will leverage Mastercard Move’s money movement solutions to enable individuals and businesses in the United Arab Emirates to send funds directly to the payment industry giant’s cards. The relevant information is contained in a press release that was posted on the website of Checkout.com. The companies expect that the mentioned offer will facilitate insurance disbursements, wallet cashouts, refunds, and other use cases.
Mete Guney, executive vice president, of commercial and new payment flows, Eastern Europe, Middle East, and Africa at Mastercard, said that the firms together will set a new standard for payment technologies in the region enabling faster and safer payments to meet the evolving needs of customers.
The press release noted that Mastercard Move’s money movement capabilities power person-to-person payments, business payments, and disbursements. It was also highlighted that the mentioned capabilities can access more than 95% of the world’s banked population.
In January, Mastercard published information according to which its worldwide gross dollar volumes reached $2.6 trillion in the fourth quarter of 2024. This indicator showed an increase of 12% compared to the reading for the same period in 2023.
The number of Mastercard cards used by consumers and commercial customers worldwide reached 3.5 billion in the fourth quarter of 2024. This indicator grew by 6% year-on-year.
The volume of Mastercard Move transactions for the fourth quarter of 2024 increased by 40% compared to the reading for the same period in 2023. This was announced in January by Mastercard chief executive officer Michael Miebach during the company’s quarterly earnings call.
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