Mastercard and Arab Financial Services (AFS) have introduced a corporate credit and prepaid card offering integrated with the AFS Pro mobile app in the UAE.

The solution combines corporate spending management and payment acceptance capabilities into a single platform. This allows businesses to manage outgoing expenses and incoming payments together.

Initial rollout will take place in the UAE before expanding to Egypt.

Through the app, companies can issue corporate cards, apply spending controls, and monitor transactions in real time.

Payment acceptance tools are also available within the platform. These include SoftPOS technology, which enables merchants to accept contactless payments directly through their smartphones, and a Pay-by-Link function for secure remote and e-commerce transactions.

By bringing corporate payments and merchant operations together, the unified system aims to reduce fragmentation in financial processes.

Finance teams gain greater transaction visibility and access to reporting tools that support reconciliation and day-to-day financial management.

AFS Pro also provides financial institutions with a ready-to-deploy business payments solution.

Banks can offer the ecosystem to their business customers by combining corporate card programmes and payment acceptance capabilities without requiring extensive internal development.

“Our landmark alliance is a major win for businesses in the UAE and Egypt, as it significantly boosts efficiency, visibility and control over corporate spending,”

said Dr. Samer Soliman, Group CEO, AFS.

“We look forward to working closely with AFS to provide businesses with a scalable, digital-first corporate payments solution that delivers meaningful value,”

said Mete Guney, Executive Vice President, Market Development, EEMEA, Mastercard.

Featured image credit: Edited by Fintech News UAE, based on image by Frolopiaton Palm via Magnific