UAE-based fintech Zand has announced a partnership with Mastercard Move’s money solutions to enhance cross-border payments.
Mastercard Move is the payment giant’s suite designed for various transaction types, including P2P payments, business payments, and mobile wallet transactions. It also provides cash payout options for the financially underserved.
The initial phase of the collaboration will leverage Mastercard Move’s capabilities for payment solutions, including deposits and cash pickup services. The goal is to innovate payments within the region.
J.K. Khalil, EVP and division president for East Arabia at Mastercard, emphasized the company’s commitment to payment innovation, stating that the partnership with Zand aims to connect more individuals and businesses to the financial system, fostering greater financial inclusion and economic opportunity throughout the UAE and beyond.
Michael Chan, CEO of Zand, expressed enthusiasm about the collaboration, highlighting its significance in advancing cross-border payments and supporting Zand’s mission to boost the digital economy. He noted the growing and evolving payments ecosystem in the region, which presents remarkable opportunities for the implementation of AI, blockchain, and payment technologies.