Following this announcement, the companies launched the new Business Payment Solutions, offering optimised and secure business-to-business payment experiences for Network International’s corporate customers in the region of the United Arab Emirates. The new Program is expected to enable clients to more effectively manage business experiences, receivables and payables, and improve overall cash flow.
In addition, Network International and Mastercard will continue to focus on meeting the needs, preferences, and demands of users and customers in an ever-evolving market, while also prioritising the process of remaining compliant with the regulatory requirements and laws of the industry.
The Business Payment Solutions is expected to enable Network International to tap into Mastercard’s global digital payment expertise including card capabilities, expense management, and virtual card innovations. This will allow commercial users in UAE to digitise business expenses, streamline firm payables and receivables processes, optimise payment solutions, and improve cash flow.
The digital commercial transactions landscape in the UAE is shifting, with corporate users looking for new improved ways to enhance both payment operations and working capital, accelerating the region’s digital economy ambitions. The new program is expected to deliver optimised visibility and efficiency in commercial payment flows, simplifying transactions across a variety of spend categories that range from day-to-day expenses and supplier payments. This process will aim to manage travel expenses and other business-to-business (B2B) transactions.
As part of the Program, Network International will offer a range of business payment services that are targeted at merchants and general businesses in the area, with a variety of applications and use cases. This includes the Corporate Executive Card which will provide businesses of all sizes with a range of benefits and robust controls for expense management and the Incontrol Digital Business Payments virtual cards that can be used for domestic and cross-border payments that will deliver net-zero foreign transactions in the UAE.
At the same time, the Mastercard Wholesale Program Digital Travel Payments is set to offer travel industry clients secure, streamlined, and automated B2B travel payment transactions. The service was also developed to reduce the costs for travel business transactions through an optimised pricing model and efficiency through Mastercard’s virtual card technology.
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