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Zand and Mastercard Announce a Strategic Collaboration to Enhance Cross-Border Payment Solutions
Zand, an AI-powered Fintech and financial services group in the United Arab Emirates, has announced the signing of a strategic agreement with Mastercard to collaborate on enhancing cross-border payment solutions. Leveraging Mastercard Move’s money movement solutions, this collaboration will enable seamless, secure, and efficient cross-border money transfers offered by Zand to its customers.
In the first phase of the collaboration, Zand will offer payment solutions, such as deposits into bank accounts and wallets in multiple markets, as well as convenient cash pick-up services, using Mastercard Move’s capabilities. This underscores Mastercard and Zand’s joint commitment to advancing the digital economy, and driving innovation and financial inclusion in the region’s financial services landscape.
J.K. Khalil, EVP 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, CEO 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 — the company’s comprehensive suite of money movement solutions — enables fast, secure and efficient fund transfers. The service supports diverse payment flows such as person-to-person transfers, business payments, and disbursements, with multiple payout options including cards, bank accounts and mobile wallets. Additionally, to serve the unbanked and underbanked populations, cash payouts are available via Mastercard’s growing global network of cash pickup locations.
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