First Abu Dhabi Bank and Mastercard Lead the Transformation of Corporate Payments in the UAE Through Mobile Virtual Cards
Amid the rapid digital transformation reshaping the financial sector in the United Arab Emirates, First Abu Dhabi Bank (FAB), in partnership with Mastercard, has announced the launch of an innovative corporate payments solution based on mobile-first virtual cards. This launch marks a first for the Europe, Middle East and Africa (EEMEA) region, underscoring the UAE’s position as a leading hub for fintech innovation and advanced banking solutions.
A New Solution Redefining Corporate Payments
The introduction of Mastercard’s Mobile-First Virtual Card Number (VCN) solution represents a significant shift in how businesses and government entities manage payments. The solution enables organisations to issue and manage virtual corporate cards that can be seamlessly integrated into mobile wallets, offering a more flexible, efficient and secure way to conduct both online transactions and in-store purchases.
Supporting Digital Transformation and Operational Efficiency
The new solution empowers organisations to enhance cash flow management, streamline expense administration and improve accounts payable processes. Advanced centralised controls allow real-time tracking of spending, supporting data-driven financial decision-making while strengthening transparency and governance across corporate expenditures.
FAB’s Leading Role in Modernising Corporate Payments
With this launch, First Abu Dhabi Bank continues to play a pivotal role in advancing the digital transformation of corporate payments in the UAE. By introducing Mastercard’s advanced mobile virtual card platform to the local market, the bank reinforces its commitment to delivering innovative financial solutions that enhance operational efficiency and align with the UAE’s vision of building a secure, sustainable and fully digital financial ecosystem.
An Integrated Solution for the Modern Business Environment
As digitalisation accelerates across the UAE’s business landscape, mobile virtual cards offer a comprehensive solution tailored to the needs of modern enterprises. Cards can be issued instantly and used effortlessly via mobile wallets, while enhanced digital security features and granular usage controls provide a higher level of protection compared to traditional physical cards.
Setting New Standards for B2B Payments
With studies indicating that around 45% of companies in the UAE are currently investing in mobile payment technologies for business-to-business transactions, demand for flexible and secure digital payment solutions continues to rise. In this context, the collaboration between FAB and Mastercard establishes a new benchmark for B2B payments by seamlessly embedding virtual corporate cards into mobile wallets, serving the evolving needs of both private-sector companies and government entities.
Shaping the Future of Payments
The launch of the mobile-first virtual corporate card reflects the shared commitment of First Abu Dhabi Bank and Mastercard to reshaping the future of payments in the UAE. This strategic partnership highlights both organisations’ dedication to fostering financial innovation, supporting sustainable growth and enhancing operational efficiency—contributing to the development of an advanced digital payments ecosystem that serves a wide range of economic sectors, both locally and internationally.
