Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) has collaborated with Mastercard to officially launch the company’s proprietary mobile-first virtual card number (VCN) solution for businesses, according to a press release.

The new solution, which marks a debut in the Eastern European, Middle East, and African (EEMEA) region, will allow enterprises and government entities to issue and manage virtual corporate cards while integrating them into mobile wallets to provide flexibility and efficiency as well as secure payments.

Mastercard’s mobile VCN solution empowers organizations to optimize cash flow, streamline expense management and enhance the accounts payable processes.

Through this launch, FAB is empowering enterprises and government entities to issue and manage mobile-first virtual corporate cards that integrate seamlessly with digital wallets.  

Meanwhile, businesses can generate virtual cards in real time and utilize them for online and in-store purchases through mobile wallets.

In the UAE, research shows that 45% of companies are investing in mobile technology for B2B payments. With the new mobile virtual card solution that enables virtual commercial cards to be seamlessly added to digital wallets, FAB and Mastercard have established themselves at the forefront of this movement while delivering a solution that reflects the evolving needs of businesses and government entities in the region.

Earlier in December, the two entities along with ADNOC Distribution initiated the ADNOC Rewards Credit Card which was created to deliver premium benefits to customers across the UAE.