UAE’s Astra Tech teams up with Mastercard to boost FinTech and payments services – The National
- Date: 14-Mar-2023
- Source: The National
- Sector:Technology
- Country:UAE
UAE’s Astra Tech teams up with Mastercard to boost FinTech and payments services – The National
Astra Tech, the Dubai-based technology-focused investment company backed by Abu Dhabi's artificial intelligence company G42, has teamed up with global payments company Mastercard to boost its digital payments services in the Mena region.
The partnership makes PayBy, Astra Tech's financial services arm, the first FinTech player in the UAE to obtain a Mastercard principal membership licence, which will enable it to act as an issuer of digital — prepaid and debit — and physical cards, Astra Tech told The National on Monday.
It also enables Astra Tech, which secured $500 million in a funding round led by G42 in December, to issue Mastercard-branded physical and digital cards through its PayBy and Botim platforms, it said.
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