National coffer RAKBANK, headquartered in the emirate of Ras Al-Khaimah in the United Arab Emirates, has teamed up with Mastercard to acquaint accumulated acquittal solutions, Zawya appear Wednesday (Jan. 22).
The account of solutions includes accumulated biking and ball cards in accession to a B2B basic agenda that enables corporates to administer accounts payable with added control.
“The bartering payments mural and requirements accept badly confused and broadcast over the aftermost few years in the UAE,” said Frederic de Melker, managing administrator of claimed cyberbanking at RAKBANK. “The use of cyberbanking and agenda platforms accept opened new opportunities for the abeyant use of cards for spends that were commonly transacted in banknote and checks.
“We accordingly see an befalling to barrage a apartment of able-bodied and specialized accumulated acquittal solutions that will accredit corporates to administer agent amount seamlessly and abridge the procure-to-pay action to facilitate business-related payments with added controls and visibility.”
The RAKBANK Accumulated Purchase Mastercard Agenda offers a “secure and simple way of authoritative high-value enterprise-level B2B, B2G and cross-border payments.” It additionally provides able ecology of biking and ball costs via the SmartData amount ecology and administration tool.
“This is a admired accession to the assorted ambit of articles and casework that are offered by RAKBANK,” said Rahul Oberoi, managing administrator of broad cyberbanking at RAKBANK. “As a bank, we strive to always acquaint new articles and solutions that will abetment our barter not aloof financially, but in absolute abutment of their business objectives of calmly managing costs and demography advantage of different deals and solutions. With this launch, RAKBANK offers a complete apartment of avant-garde accumulated acquittal solutions that will abate paperwork, time and advance operating efficiencies of our accumulated customers.”
Girish Nanda, accepted administrator of UAE & Oman for Mastercard said, “Digital payments action businesses the accuracy and accessibility of alive how and area their money is actuality spent. This, in turn, provides decision-makers with appropriate and accordant insights to body efficiencies into their banknote breeze management.”
The amplification of commonly consumer-focused FinTechs addition their band-aid ambit to accommodate B2B payments accoutrement exemplifies aloof how massive the befalling is for account providers to accouterment friction.
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