FAB, Mastercard launch new Virtual Corporate Debit Card

FAB, Mastercard launch new Virtual Corporate Debit Card

ABU DHABI, 3rd February, 2022 (WAM) -- First Abu Dhabi Bank (FAB), the UAE’s largest bank and one of the world’s largest and safest financial institutions, has partnered with Mastercard to launch the new FAB Virtual Corporate Debit card.

The new offering expands the range of FAB’s Global Transaction Banking (GTB) Virtual Account e-commerce enabled product capabilities for corporate and commercial clients.

The new card offering provides companies with unrivalled flexibility and control in managing payments to vendors, and a viable alternative to standard business payment methods that have come under pressure during the pandemic.

The new virtual card provides a range of capabilities beyond those available with a physical card and comes with the benefits of FAB’s next generation virtual account management. It allows clients to request multiple virtual cards linked to their physical or virtual account, assigned to specific units or individuals within the organisation for authorised business expenses.

This proposition comes with a self-service portal for clients to manage the issuance and maintenance of cards themselves, with newly issued cards available immediately for activation and usage.

Gautam Dutta, Head of Global Cash Product Management, GTB at FAB, said, "FAB’s Virtual Corporate Debit Card in partnership with Mastercard is a tailored