First Abu Dhabi Bank (FAB) and Mastercard have introduced the latter’s mobile virtual card number (VCN) solution.
The launch represents a step forward in the corporate payments’ modernisation, responding to the increasing demand for digital and contactless payment methods.
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Mastercard’s VCN solution is designed to help businesses enhance cash flow, streamline expense management, and improve accounts payable processes.
With this solution, FAB enables enterprises and government entities in issuing and managing virtual corporate cards that can be added to digital wallets.
The integration is intended to enhance operational efficiency, increase transparency and control over corporate expenditure, and support the UAE’s broader transition towards secure, sustainable, and technology-driven financial systems.
As businesses in the UAE navigate a digitising landscape, mobile virtual cards offer an end-to-end solution that addresses modern payment challenges.
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By GlobalDataCompanies can generate virtual cards instantly and use them for online as well as in-store transactions through mobile wallets.
This works with current payment systems, providing greater flexibility and security.
Centralised controls within the solution give organisations a comprehensive view of spending, supporting data-driven decision-making and more effective expense management.
In the UAE, digital payment adoption is accelerating, with research indicating that 45% of companies are investing in mobile technology for B2B payments.
By introducing this mobile virtual card solution, which allows virtual commercial cards to be incorporated into digital wallets, FAB and Mastercard are responding to the evolving requirements of businesses and government bodies in the region.
The companies stated that the launch highlights their joint commitment to advancing payment technologies and promoting operational excellence across industries in the UAE and beyond.
Earlier this month, Mastercard, TerraPay announced a collaboration to expand digital payment capabilities for wallet providers and their users globally.
