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.
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