UAE-based fintech company VaultsPay has announced a new partnership with global payments giant Mastercard. The agreement aims to enhance digital payment capabilities and support financial inclusion across the UAE by enabling VaultsPay to issue a new range of payment cards.
Quick Facts
- Partnership between UAE’s VaultsPay and Mastercard.
- VaultsPay to issue new virtual and physical cards.
- Focus on advancing the UAE’s cashless economy.
Leveraging a Global Network for Local Growth
Through this collaboration, VaultsPay will tap into Mastercard’s global network and technology to roll out both virtual and physical payment cards. This move expands its existing portfolio of acquiring, digital payment, and consumer-focused solutions.
The partnership allows VaultsPay to introduce a variety of card products tailored to the needs of local consumers and businesses. By integrating with Mastercard’s infrastructure, the company plans to deliver reliable card solutions for users in both retail and digital environments, accelerating the adoption of frictionless payment experiences.
Driving the UAE’s Digital Finance Agenda
The collaboration aligns with the UAE’s broader vision of building a digitally-driven financial ecosystem. Both companies emphasized a shared commitment to developing a cashless economy while maintaining high standards of security and compliance.
His Excellency Ali Hamad Mubarak Almheiri, Chairman of VaultsPay, said: “This agreement with Mastercard represents a strategic step forward in VaultsPay’s mission to reshape the digital payments landscape. Together, we are driving innovation that strengthens financial inclusion and enables faster access to secure, modern financial products for consumers and businesses alike.”
Gina Petersen-Skyrme, SVP and Country Manager for UAE and Oman at Mastercard, added: “At Mastercard, we are dedicated to equipping fintech companies like VaultsPay with the tools and technology needed to fuel the local payment ecosystem. This collaboration underscores our shared vision for advancing digital transformation and financial inclusion through secure and accessible payment options.”
About VaultsPay
VaultsPay is a fintech platform offering digital payment solutions for individuals and businesses. The company provides end-to-end card issuance services for customers, businesses, and digital wallet providers. It also supports merchant acquiring solutions for online and offline merchants, enabling businesses to accept payments across e-commerce, retail, and mobile platforms.
About Mastercard
Mastercard is a global technology company in the payments industry, operating in over 200 countries and territories. The company’s technology and partnerships support a wide range of digital payment choices, making transactions secure, simple, and accessible for individuals, businesses, and governments.
Source: Zawya
