UAE-based AI-powered fintech Zand has entered into a strategic partnership with Mastercard to revolutionize cross-border payments. The collaboration aims to deliver secure, efficient, and seamless international money transfers for Zand customers, powered by Mastercard Move, the company’s comprehensive suite of money movement solutions.
Key Features of the Partnership
- Mastercard Move Integration: Enables deposits into bank accounts and mobile wallets, along with cash pickup services across multiple markets.
- First Phase Rollout: Focused on simplifying international transfers for individuals and businesses.
- Broader Goal: Enhance financial inclusion and accelerate the growth of the digital economy in the region.
Industry Voices
J.K. Khalil, Executive VP & Division President, East Arabia at Mastercard, stated:
“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 of Zand, added:
“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.”
Why It Matters
Mastercard Move supports multiple payment flows—person-to-person transfers, business transactions, and disbursements—with payout options to cards, bank accounts, and mobile wallets. To serve unbanked and underbanked communities, it also offers cash payouts via Mastercard’s global network of pickup locations.
This partnership reflects both companies’ shared commitment to innovation, financial inclusion, and advancing the digital economy in the UAE and beyond.
