Building on their previous collaboration, UK-based financial technology company Checkout.com will be joining forces with Mastercard to facilitate seamless money transfers for individuals and businesses in the UAE.

 

Leveraging Mastercard Move’s money movement solutions, Checkout.com will enable its customers to send funds directly to Mastercard cards in a fast, convenient, and secure way. 

 

Mastercard Move, the technology company’s comprehensive portfolio of money movement capabilities, powers a variety of payment experiences, including person-to-person payments, business payments and disbursements. 

 

The portfolio’s reach spans 180 countries and over 150 currencies, with access to more than 95% of the world’s banked population. 

 

This collaboration will facilitate a wide range of use cases, including insurance disbursements, wallet cashouts and refunds, offering more flexibility and speed to businesses and individuals.

 

"At Mastercard, we are dedicated to leading the digital transformation in the markets we serve, and our collaboration with Checkout.com is a significant step towards delivering innovative payment solutions for both consumers and businesses,:" remarked Mete Guney, Executive Vice President, Commercial and New Payment Flows, Eastern Europe, Middle East and Africa, Mastercard.

 

"Together we will set a new standard for payment technologies in the region, enabling faster, more secure payment flows that meet the evolving needs of our customers," stated Guney. 

 

Remo Giovanni Abbondandolo, General Manager, MENA, Checkout.com, said: "Mastercard has long been a trusted partner in Checkout.com's mission to modernize the global payment ecosystem. We are excited to be the first acquirer to introduce the next phase of Mastercard Move, a tool that will enable us to further empower businesses with streamlined payment solutions, driving their performance."

 

"This partnership underscores our commitment to providing faster, more secure disbursements, helping businesses thrive in an ever-evolving digital landscape," he added.-TradeArabia News Service