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Mastercard and AFS Launch Corporate Payment Solution in UAE and Egypt

Prime Highlights: 

  • Mastercard and AFS have partnered to introduce corporate credit and prepaid cards in the UAE and Egypt.  
  • The new platform combines business payments, expense management and payment acceptance in one mobile app.  

Key Facts: 

  • The rollout will begin in the UAE before expanding to Egypt.  
  • Businesses can issue corporate cards, manage expenses and accept digital payments through a single platform. 

Background:

Mastercard and Arab Financial Services (AFS) have introduced a corporate payment service for businesses in the UAE and Egypt. The service connects corporate credit and prepaid cards with the AFS Pro mobile app, allowing companies to manage their business payments and expenses online.

The service will launch in the UAE before reaching Egypt. Companies can issue corporate cards, decide spending limits, view transactions and keep track of expenses through the app.

The application enables users to perform Tap-to-Phone and Pay-by-Link transactions, which allow businesses to facilitate contactless and web-based transactions. There are business dashboards available within the application to update users on sales and transactions.

Companies can also access reporting tools that support account reconciliation and day-to-day financial management from one place.

The partnership is also expected to help banks and financial institutions expand their services to business customers. The platform combines corporate card programmes with payment acceptance features and is designed for quick deployment with limited technical integration.

Dr Samer Soliman, Group Chief Executive Officer of AFS, said the partnership with Mastercard marks an important step in the company’s expansion into the UAE and Egypt. He said the new solution will give businesses greater visibility and control over corporate spending while improving operational efficiency.

Mete Guney, Executive Vice President, Market Development, EEMEA at Mastercard, said the company remains focused on providing businesses with digital payment solutions that support growth. He added that the collaboration with AFS will deliver a scalable platform that meets the changing payment needs of companies across the region.

The launch reflects continued investment in digital business payments as organisations across the Middle East adopt technology to modernise financial operations and improve efficiency.