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UAE-based digital bank Zand has entered into a strategic partnership with Mastercard Move, the payment giant’s money movement solutions suite, to enhance cross-border payment capabilities in the region.
Mastercard Move supports a wide range of transactions, including peer-to-peer transfers, business payments, card and mobile wallet transactions, and cash payouts for the financially underserved.
In the initial phase, the collaboration will leverage Mastercard Move’s technology to facilitate deposit and cash pickup services, with the broader goal of driving innovation and expanding payment options across the UAE and beyond.
J.K. Khalil, Executive Vice President and Division President, East Arabia, Mastercard, said:
“At Mastercard, we are committed to driving innovation across the region’s payments landscape. Our collaboration with Zand will connect more people and businesses to the financial system, fostering greater financial inclusion and economic opportunity in the UAE and across the region.”
Michael Chan, CEO of Zand, added:
“This partnership with Mastercard marks a major milestone in our mission to accelerate the growth of the digital economy. The region’s rapidly evolving payments ecosystem presents compelling opportunities to apply AI, blockchain, and other advanced technologies to redefine the future of cross-border payments.”
The partnership is expected to strengthen the UAE’s position as a hub for digital finance, supporting the integration of emerging technologies to meet the needs of a diverse and expanding customer base.
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