Network International has introduced new Business Payment Solutions for companies in the United Arab Emirates (UAE).
These solutions were launched in partnership with Mastercard and include card offerings, expense management and virtual cards, the companies said in a Tuesday (July 9) press release.
With these tools, Network International’s commercial clients in the UAE will be able to digitize business expenses, streamline payables and receivables processes, enhance payment security and improve cash flow, according to the release.
“By launching the new Business Payment Solutions for the first time, Network aims to unlock further growth opportunities for businesses and corporations in the UAE,” Nandan Mer, group CEO of Network International, said in the release. “By making progressive inroads into digitization of commercial payments, Network continues to contribute towards the UAE’s aspirations for a cashless economy.”
These new solutions aim to meet the demand from corporate clients in the UAE for ways to improve both payment operations and working capital, per the release.
With these solutions, corporate clients can gain better visibility and efficiency in commercial payment flows, simplify transactions in everything from day-to-day expenses to supplier payments, and manage travel expenses and other B2B transactions, according to the release.
The program includes a Corporate Executive Card that includes benefits and controls for expense management, a Digital Business Payments virtual card for both domestic and cross-border payments, and Digital Travel Payments, a wholesale program that helps travel industry customers manage B2B travel payment transactions, per the release.
“By combining our capabilities and reach, more companies across UAE will be able to pay and get paid quickly and securely, boosting liquidity and removing friction from the system,” J.K. Khalil, division president, East Arabia at Mastercard, said in the release.
In a partnership announced in September, Network International teamed up with J.P. Morgan Payments to allow that bank to expand and complement its existing payment offerings in the Middle East and Africa.
In February 2023, Network International and Mastercard partnered to create a public transport payment system in Jordan. The companies joined with the Greater Amman Municipality (GAM) to roll out a new system enabling seamless digital payments across the municipality’s public transport network.