Mastercard and Worldpay are helping to fuel the ongoing digital transformation of the UAE by enabling faster money movement to cardholders for domestic and international payments.
Customers in the United Arab Emirates will soon benefit from faster transactions thanks to a new partnership between Worldpay and Mastercard.
Announced in Dubai on August 18, Worldpay will use Mastercard Move to allow consumers and businesses in the UAE to make instant payouts to eligible Mastercard cards, with a particular focus on supporting the gig economy.
“With Mastercard Move, we’re delivering speed, security, and convenience to Worldpay’s customers in the UAE,” said Mete Güney, Executive Vice President, Market Development, EEMEA of Mastercard.
“This initiative will accelerate the shift toward digital transactions, enhance financial inclusion, and drive innovation in the region.”
Worldpay will also roll out its Push-to-Card solution, expanding cross-border payouts to Mastercard cards for the gig economy, insurance claims, remittances, and even crypto withdrawals.
The offering is designed to provide customers faster access to funds, while business will also benefit from disbursement capabilities across both personal and business payments.
Furthermore, through Mastercard Move, fund transfers can be made across multiple account types and reach nearly 10 billion endpoints globally, supporting both domestic and international money transfers.
UAE’s growing digital landscape
Many major payment companies have enhanced their presence in the Middle Eastern market, particularly the UAE, as expats have increasingly relied on fast money movement products to send and receive money, domestically and internationally.
The UAE’s government has been integral in building the foundations for a payment regulatory framework which focuses on security and safety.
The Central Bank of the UAE (CBUAE) has implemented anti-money laundering (AML) and countering the financing of terrorism (CFT) rules which mandate financial institutions report suspicious transactions, and oversee detailed rules pertaining to remittances and wire transfers.
Backed by these regulatory foundations, the UAE government has also been encouraging the adoption of digital payments, in particular peer-to-peer (P2) transactions, in a bid to digitise its economy.
With a focus to double the UAE’s digital economy as a key non-oil growth driver by 2031, digital wallets such as WeChat Pay and Alipay have become popular amongst consumers, while the Al Etihad Payments’ rail Aani enables P2P transactions.
Solutions like Mastercard Move and Worldpay’s Push-to-Card are helping accelerate the UAE’s digital payment shift, giving banks, non-bank financial institutions, and their customers faster and more secure money transfers. The services support payments to more than 200 countries and in over 150 currencies.
“Worldpay plays a pivotal role in shaping the future of payments globally. As one of the first acquirers in the country to enable Mastercard Move, we’re offering individuals and businesses a fast, secure, and convenient way to send and receive funds,” said Tausif Ahmed, Merchant Country Leader MEA at Worldpay.
“This marks a significant step forward in transforming how peer-to-peer and disbursement payments are made in the region.”
