Digital corporate payment solutions are growing fast in the Middle East and North Africa (MENA) markets. Global fintech companies are forming partnerships to change how businesses handle their money. A great example is the new collaboration between Mastercard and Arab Financial Services (AFS). They're launching a complete system for corporate credit and prepaid cards, all linked to the AFS Pro smartphone app, in the UAE and Egypt. This partnership aims to offer a fully digital model for managing business payments. It brings together issuing business cards, controlling expenses, accepting payments, and tracking financial transactions in real-time. This will help companies move away from traditional, manual processes to more flexible and transparent systems. Launching these solutions shows a growing trend in the fintech sector: developing specialized tools for businesses. These tools don't just make payments easier; they also provide data and analytics to help organizations make better spending decisions and manage cash flow more efficiently.
A Digital Platform to Manage the Entire Payment Cycle
The AFS Pro platform lets businesses issue and manage business cards electronically. They can set spending limits and controls, monitor transactions in real-time, and access tools that help finance departments track expenses and reduce reliance on old-fashioned operational procedures. Businesses also benefit from Mastercard's global acceptance network, plus added security solutions and digital services. This makes it easier and safer for organizations to make payments both locally and internationally. The platform isn't just for corporate cards; it also offers payment acceptance tools. These include SoftPOS (Tap-to-Phone) technology, which allows merchants to accept contactless payments using smartphones, and a Pay-by-Link service to support e-commerce and remote transactions. The platform also features business dashboards to track sales performance and transaction trends, along with reporting and financial reconciliation tools. This helps improve operational efficiency and provides a clearer view of payment activity.Tags
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