Mastercard is keeping an arrangement going with Dubai Asset Management in order to promote more robust digital payments in the UAE, a press release says.
The release says this partnership will reward residents in numerous residential communities in that area by helping to enhance technology. It will be one of several partnerships to work with Dubai residents to provide better customer experiences and offer more sustainable cities.
Mastercard is working with partners on bridging the private and public sectors to do so.
“Creating a seamless experience is at the heart of everything we do,” said Ahmed Al Suwaidi, executive director of Dubai Asset Management. “As an early adopter of innovative technology, we launched DubaiAM Life to improve liveability by offering round-the-clock access to smart, secure and innovative customer-centric services. More than eight in 10 residents regularly use our integrated platform, and we are committed to strengthen it even more in the future.”
In addition, Mastercard UAE & Pakistan Country Manager Girish Nanda said that, according to data, four out of five people in the UAE have said they’d be happier living in a smart city.
That said, he said collaborating between public and private entities was “more important than ever.”
“Together, we must focus on simplifying the lives of residents and visitors alike and building dynamic and inclusive communities that enrich the lives of the people who live in them,” he said, according to the release. “Our new collaboration with Dubai Asset Management embodies this philosophy and will leverage the power of technology to support Dubai’s transition towards a cashless society.”
In other Mastercard-related news, the payment giant recently extended a partnership with digital payment services provider One Inc., in order to offer more disbursement claims through Mastercard virtual cards and Mastercard Send.
Read more: Mastercard, One Inc Team on Real-Time Insurance Disbursements
The report says this will be accomplished through utilizing One’s ClaimsPay product, which offers almost instant, secure payments, which could lead to better cashflow and less cycle time.
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