Mastercard and First Abu Dhabi Bank (FAB), the UAE’s largest bank, have unveiled a groundbreaking long-term global partnership, solidifying their extensive collaboration in Eastern Europe, Middle East, and Africa (EMEA) region. The landmark agreement, spanning the UAE, Saudi Arabia, Oman, and Egypt, signals a strategic alliance aimed at propelling the digital payments landscape forward in the region.

This significant collaboration empowers FAB to drive accelerated growth and innovation in the UAE while expanding its footprint in international markets. The partnership will introduce tailored products, services, and solutions for FAB’s priority consumer, SME, and commercial segments, offering enhanced choice, flexibility, and benefits.

Utilizing cutting-edge technologies such as Artificial Intelligence (AI), both entities aim to revolutionize the customer experience and enhance operational efficiency. Leveraging Mastercard’s global expertise and the capabilities of Mastercard’s Global Center for Advanced AI and Cyber Technology, based in the UAE, the partnership will drive transformative initiatives to shape the future of payments.

Futoon Al Mazrouei, Group Head of Consumer Banking, UAE, FAB, expressed enthusiasm about the collaboration, stating, “FAB and Mastercard share a commitment to spearheading excellence while keeping our customers at the heart of everything we do. We are delighted to deepen our partnership as we consolidate our portfolios, harnessing Mastercard’s innovative product capabilities, differentiated service offerings, and unique partnership approach. We are excited to usher in this new era to accelerate our growth and advance digital transformation across the region.”

Khalid Elgibali, Division President, Middle East and North Africa, Mastercard, highlighted the shared journey of innovation and growth, saying, “At Mastercard, we are working side by side with leading ecosystem players to power economies, boost financial inclusion, and build a sustainable, connected world where everyone can thrive. Our global collaboration with FAB represents a significant milestone on our shared journey of innovation and growth. We thank the bank for their partnership and look forward to leveraging our complementary strengths to drive disruption and redefine the payments landscape together.”

The partnership builds upon the longstanding and fruitful collaboration between Mastercard and FAB, which has resulted in several world- and market-first differentiators across various segments, including affluent customers. The recent launch of the SlicePay Buy-Now-Pay-Later (BNPL) card under FAB’s Dubai First trademark is a testament to their innovative spirit.

Furthermore, FAB has joined Mastercard’s Priceless Planet Coalition, a global initiative aimed at restoring 100 million trees to combat climate change, showcasing their commitment to environmental sustainability and corporate responsibility.