Zand, Mastercard partner to boost cross-border payment solutions
UAE-based AI-powered fintech and financial services group Zand has signed a strategic agreement with Mastercard to enhance cross-border payment solutions using Mastercard Move's money movement technology.
The partnership will enable
In the first phase, Zand will provide deposits into bank accounts and wallets in multiple markets, along with cash pick-up services through Mastercard Move's capabilities.
The collaboration is aimed at advancing the digital economy, driving innovation and expanding financial inclusion in the region's financial services sector.
Zand-Mastercard collab to build financial inclusion
'At Mastercard, we are committed to driving innovation across the region's payments landscape,' said J K Khalil, EVP and division president, East Arabia, Mastercard. 'Our collaboration with Zand will connect more people and businesses to the financial system, helping drive greater financial inclusion and economic opportunity in the UAE and across the region.'
Michael Chan, CEO at
Payout options include cards, bank accounts, mobile wallets and cash, with cash payouts available through Mastercard's global network of pickup locations to serve unbanked and underbanked populations.
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