First Abu Dhabi Bank (FAB) has partnered with Mastercard to launch a proprietary mobile-first virtual card number (VCN) solution for businesses.
The launch aims to modernise corporate payments in the UAE, addressing the demand for digital and contactless solutions. Leveraging Mastercard’s mobile VCN solution supports companies and organisations to improve cash flow, simplify expense management, and optimise accounts payable processes.
Improving corporate payments
As a driver for transformation in the region, FAB’s goal is to introduce Mastercard’s mobile VCN platform to support businesses, enterprises, and government entities in the region to manage mobile-first virtual cards that integrate conveniently with digital wallets. This will strengthen operational efficiency, improve transparency and control over corporate spending, and help the country’s broader strategy to build secure, sustainable, and technology-driven financial ecosystems.
Digital payment adoption is expanding rapidly in the UAE, with research showing that 45% of companies are investing in mobile tech for B2B payments. The new solution allows for virtual commercial cards to be added to digital wallets, offering a product that reflects the ever-evolving needs of organisations in the region.
Enterprises in the UAE adapt quickly to digitalisation developments, and mobile virtual cards solve numerous challenges that they have to face, providing an end-to-end solution tailored to their demands and needs. Users will be able to generate virtual cards in real time and use them for online and in-store purchases via mobile wallets. The initiative integrates with the whole payment process, making it easy to deliver flexibility and security.
The initiative highlights Mastercard’s and FAB’s shared commitment to transforming the payments landscape and fostering developments, growth, and operational performance across industries in the region and beyond. Mastercard’s mission is to further power economies and individuals, building a sustainable landscape where everyone can grow. The company supports a broad range of payment choices, making transactions easier to control, secure, and convenient.
