Mastercard has entered into a strategic partnership with Zand, the UAE’s first fully digital bank, to modernize the way individuals and businesses conduct cross-border transactions. The collaboration aims to deliver faster, more secure, and more transparent international payment services, reinforcing the UAE’s position as a global financial hub.
By leveraging Mastercard’s global network and advanced payment solutions, Zand will streamline international transfers with real-time tracking, enhanced security measures, and reduced transaction friction. The enhanced services are designed to meet the needs of both retail customers and corporate clients managing complex cross-border flows.
Zand CEO Michael Chan said the partnership aligns with the bank’s mission to provide innovative, customer-centric financial services. Combining Zand’s agile digital banking capabilities with Mastercard’s payment expertise, he added, will create a seamless cross-border payment experience to support trade, investment, and remittances in and out of the UAE.
Mastercard’s MENA Division President, Khalid Elgibali, underscored the importance of cross-border payments for global commerce and personal finance, noting that the partnership will help eliminate common obstacles such as delays, high costs, and lack of transparency.
The initiative comes amid rising cross-border transaction volumes in the UAE, driven by increased trade activity, expatriate remittances, and the nation’s strategic location bridging East and West. Both companies see the collaboration as a way to tap into growing market demand while aligning with evolving regulations and innovations in digital payments.
