UAE – Mubasher: Mastercard teamed up with UAE-based fintech company Qashio to launch corporate credit cards with virtual issuance capabilities across the region, according to a press release.
The partnership aims to make expense management a cashless, transparent, and flexible ecosystem for corporates in line with the UAE government’s vision to drive a robust digital economy.
Mastercard and Qashio will expand access to commercial business-to-business (B2B) solutions that can help small and midsize enterprises (SMEs) digitise and transform their operations with a digital-first mindset and approach.
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,” Moradi added.
Gina Peterson-Skyrme, Vice President and Country Business Development Lead for the UAE & Oman, Mastercard, commented: “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.”
In June 2022, Qashio launched the first corporate expense management card and software for business transactions in the UAE to develop comprehensive services in order to enter the cashless ecosystem.
