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.

Driving Digital Transformation

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.