The launch of corporate credit cards will be made possible by a partnership between the international technology corporation Mastercard and the UAE-based spend management fintech business Qashio. The strategic cooperation intends to make corporate expenditure management transparent, flexible, and cashless in the future.
Mastercard and Qashio are extending access to commercial B2B solutions that can assist SMEs in digitizing and transforming their operations with a digital-first mentality and approach, in line with the UAE government's objective to develop a thriving digital economy. The announcement enhances Mastercard's continuously growing B2B commercial capabilities, while Qashio is expanding its corporate network and corporate reach.
Businesses may rely on easy, cashless, automated cost management that makes digitization simple and allows for seamless modernisation of corporate spend management.
Armin Moradi, CEO and Co-founder of Qashio said: “Collaborating with Mastercard is a huge opportunity for the MENA fintech industry. Mastercard has provided access to global learning opportunities and lends the stability and security of a multinational firm that is well-known and highly respected in the payments and fintech sectors.”
Gina Peterson-Skyrme, Vice President and Country Business Development Lead for the UAE & Oman, Mastercard commented: “The UAE is on an accelerated path towards achieving a cashless economy. By playing an active role in the fintech and SME sectors, Mastercard enables businesses to achieve operational efficiencies through our innovative technology and solutions while supporting the country’s vision of a digital-first economy. Qashio's robust end-to-end spend management platform offers exciting new opportunities for SMEs, and we are pleased to collaborate with them to bring convenient and rewarding commercial B2B payments to more businesses.”