Latest news with #JKKhalil
Arabian Business
4 days ago
- Business
- Arabian Business
Zand, Mastercard partner to boost cross-border payment solutions
Zand, an AI-powered fintech and financial services group based in the United Arab Emirates, has signed a strategic agreement with Mastercard to enhance its cross-border payment offerings. The partnership will leverage Mastercard Move, the company's suite of money movement solutions to deliver secure, efficient, and seamless international transfers for Zand customers. In the first phase, Zand will introduce payment options including deposits into bank accounts and mobile wallets across multiple markets, along with cash pick-up services. The move reflects both companies' commitment to advancing the digital economy and driving financial inclusion across the region. J.K. Khalil, Executive Vice President and Division President, East Arabia at Mastercard, said: 'At Mastercard, we are committed to driving innovation across the region's payments landscape. 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 beyond.' Michael Chan, CEO at Zand, added: 'We are thrilled to collaborate with Mastercard to help drive the future of cross-border payments. This opportunity marks a significant milestone in Zand's mission to accelerate the growth of the digital economy. The payments ecosystem in the region is growing rapidly and presents compelling potential to expand the applications of AI, blockchain, and payments technology.' Mastercard Move supports a wide range of payment flows, including person-to-person transfers, business transactions, and disbursements, with payout options to cards, bank accounts, and mobile wallets. To cater to unbanked and underbanked communities, cash payouts are also available through Mastercard's expanding global network of pickup locations.
Gulf Business
4 days ago
- Business
- Gulf Business
Zand, Mastercard partner to boost cross-border payment solutions
Image: Supplied 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.
Fintech News ME
4 days ago
- Business
- Fintech News ME
Zand Partners with Mastercard to Enhance Cross Border Payments in UAE
Zand, a Dubai-based AI powered fintech and financial services group, has signed an agreement with Mastercard to work together on improving cross border payment solutions. Using Mastercard Move's money movement services, the collaboration aims to provide secure and efficient international transfers for Zand customers. In the first stage, Zand will offer payment services such as deposits into bank accounts and digital wallets in several markets, along with cash collection options, through Mastercard Move's capabilities. The initiative reflects both companies' focus on advancing the digital economy and supporting financial inclusion in the region. J K Khalil, Executive Vice President and Division President, East Arabia, Mastercard, said: 'At Mastercard, we are committed to driving innovation across the region's payments landscape. 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, Chief Executive Officer at Zand, said: 'We are thrilled to collaborate with Mastercard to help drive the future of cross border payments, and this exciting opportunity represents a significant milestone in Zand's mission to accelerate the growth of the digital economy. The payments ecosystem is rapidly growing and evolving in the region and offers compelling potential to accelerate the applications of AI, blockchain and payments technology.' Mastercard Move is the company's suite of money movement services, designed to support fast and secure transfers for various needs including person to person payments, business transactions, and disbursements. It offers different payout options such as bank accounts, cards, and mobile wallets. To serve unbanked and underbanked communities, cash payouts are also available through Mastercard's network of cash collection points.
Khaleej Times
12-03-2025
- Business
- Khaleej Times
UAE: Jaywan expands reach with new co-badge cards after Mastercard, UnionPay deals
Residents in the UAE will have more co-badged Jaywan cards for making payments within the country and outside as Al Etihad Payments (AEP) signs deals with Mastercard and UnionPay. A subsidiary of the Central Bank of the UAE (CBUAE), AEP operates the UAE's national card switch (UAESWITCH) and also manages Jaywan, the domestic card scheme. On Wednesday, AEP and Mastercard have signed a deal to launch 'Jaywan - Mastercard' co-badged debit and prepaid cards in the UAE for making payments, including e-commerce. 'We aim to offer our citizens and residents more convenience, security, and access to a global network of financial services. This collaboration not only enhances the payment experience but also supports the UAE's broader economic growth and digital transformation goals,' said Saif Humaid Aldhaheri, assistant governor for banking operations and support services of Central Bank and chairman of Al Etihad Payments. JK Khalil, division president of East Arabia, Mastercard, said the aim is to provide digital solutions that help customers make seamless and secure transactions in the UAE and beyond. Al Etihad Payments also signed an agreement with UnionPay International (UPI) to launch co-badge 'UnionPay – Jaywan' cards in the UAE. Under this agreement, the co-badge cards will operate on Jaywan's domestic payment network within the UAE, ensuring seamless local transactions. Internationally, the cardholders will benefit from the extensive UnionPay network, enabling effortless transactions across more than 180 countries and regions. 'By integrating the Jaywan and UnionPay networks, we are offering a premium card solution that enables consumers to make seamless payment transactions within and beyond the UAE,' said Saif Aldhaheri. 'This co-badge agreement will enhance the convenience and security of payments for UAE residents, ensuring a seamless domestic and international payment experience,' said Larry Wang, CEO of UnionPay International. The first batch of the co-badge cards will be issued in the near future with widespread availability across the UAE's financial institutions, it said. As reported by Khaleej Times earlier, banks and other financial institutions will offer their customers a mono-badge card, i.e. Jaywan only, for local usage as well as in the Gulf Cooperation Council (GCC) countries while a co-badge card in partnership with international payment schemes such as Discover, Mastercard, Visa and UnionPay for payments in foreign countries. Al Etihad Payments signed a deal with Visa player this week to introduce a co-badged card, allowing UAE customers to pay in the UAE and at more than 150 million merchant partners across 200 countries and territories when travelling abroad or shopping online.
