Mastercard Renews Partnership With Rakbank to Expand Digital Payments in UAE

MT Newswires Live07-14

Mastercard (MA) has renewed its partnership with Rakbank to expand digital payment capabilities across retail, business and wholesale banking in the United Arab Emirates, Rakbank said Tuesday.

The bank said the renewed collaboration will focus on digital transactions, embedded commerce and next-generation payment technologies, supporting the UAE's push to accelerate digital payment adoption.

The partnership allows Rakbank's customers to gain in-app card controls to customize benefits, manage card usage and access enhanced authentication features aimed at reducing reliance on SMS one-time passwords, the bank said.

Financial terms of the partnership were not disclosed.

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