Mastercard and Network International Join Forces to Expand Commercial Payment Solutions across Middle East and Africa

SourceEye of Riyadh
SectorFinancial Services
CountryMiddle east

Mastercard, a technology leader in the global payments industry, and its strategic partner Network International, the leading enabler of digital commerce across the Middle East & Africa (MEA), have announced a collaboration to drive the adoption of commercial payments and solutions across the region. The collaboration will see the launch of the Commercial Payment Platform in Q4 2020. The platform will offer business and corporate cards, travel cards, fleet cards and procurement cards among other corporate payment solutions to help businesses of all sizes across many sectors make the move to cashless and paperless payments. Mastercard’s suite of payment solutions will enable businesses to save time, reduce costs and simplify the way they manage their business expenses. Corporate clients will further be able to benefit from Mastercard’s In Control for Commercial Payments, an innovative platform that helps improve the user experience through the creation of an end-to-end virtual payment ecosystem. Annual commercial spend in the Middle East and Africa tallies at more than US$4 trillion, but only 1% is currently done through payment cards.

As commercial cards become more popular in the region, corporate clients are recognizing the benefits of card products that offer business benefits such as enhanced cashflow, more visibility, more...