Dubai, UAE: Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region and Mastercard have partnered to introduce the Emirates NBD Wholesale Travel Solution, an innovative virtual card based B2B payment product now available to travel agencies.

This new collaboration marks the continuation of a long-standing strategic partnership between the two companies and aims to digitize and optimize payment flows between travel agencies and the various suppliers associated with travel bookings.

By harnessing Mastercard’s virtual card innovation, through the Mastercard Wholesale Program (MWP), to digitize the way travel buyers pay travel suppliers, the new Emirates NBD Wholesale Travel Solution will improve cash flow through extended credit line and payment guarantee, increase visibility and enhance security through enriched data intelligence and fraud controls, and build efficiency across the travel value chain for domestic & cross border payments.

“With the volume of business-to-business payments in the EEMEA region increasing rapidly, the need for digitization has never been greater. At Mastercard, we are doubling down on corporate solutions and enabling new digital payment solutions to better support the markets we serve. We are excited to build on our longstanding relationship with Emirates NBD to extend the benefits of our virtual card to its travel agency customers, empowering them to reap the full benefits of the digital economy,” said J.K. Khalil, EVP & Division President, East Arabia, Mastercard. 

“Emirates NBD is proud to lead the way in delivering cutting-edge solutions tailored to the travel industry. Our newly launched Wholesale Travel Solution Corporate Card developed in collaboration with Mastercard, addresses the sector’s unique requirements for secure and efficient B2B payments to global suppliers. This solution enables us to enhance payment processes, providing businesses with a seamless, reliable solution for their transactional needs,” said Marwan Hadi, Group Head of Retail Banking & Wealth Management, Emirates NBD.  

Insights from the International Air Traffic Association (IATA) predict that 4.7 billion people will travel by air in 2024, a historic high that exceeds the pre-pandemic level of 4.5 billion recorded in 2019. As consumers return to travel and the industry continues to grow, it is essential that the sector re-thinks the processes and technologies that bring these bookings to life. B2B Payments power the travel economy, and the Mastercard Wholesale Program brings benefits across the travel value chain by accelerating the adoption of virtual cards for travel transactions.

About Mastercard

(NYSE: MA)  www.mastercard.com 

Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.

About Emirates NBD

Emirates NBD (DFM: Emirates NBD) is a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region with a presence in 13 countries, serving over 9 million active customers. As at 30th September 2024, total assets were AED 956 billion, (equivalent to approx. USD 260 billion). The Group has operations in the UAE, Egypt, India, Türkiye, the Kingdom of Saudi Arabia, Singapore, the United Kingdom, Austria, Germany, Russia and Bahrain and representative offices in China and Indonesia with a total of 859 branches and 4,512 ATMs / SDMs. Emirates NBD is the leading financial services brand in the UAE with a Brand value of USD 3.89 billion. 

Emirates NBD Group serves its customers (individuals, businesses, governments, and institutions) and helps them realise their financial objectives through a range of banking products and services including retail banking, corporate and institutional banking, Islamic banking, investment banking, private banking, asset management, global markets and treasury, and brokerage operations. The Group is a key participant in the global digital banking industry with 97% of all financial transactions and requests conducted outside of its branches. The Group also operates Liv, the lifestyle digital bank by Emirates NBD, with close to half a million users, it continues to be the fastest-growing bank in the region.

Emirates NBD contributes to the construction of a sustainable future as an active participant and supporter of the UAE’s main development and sustainability initiatives, including financial wellness and the inclusion of people of determination. Emirates NBD is committed to supporting the UAE’s Year of Sustainability as Principal Banking Partner of COP28 and an early supporter to the Dubai Can sustainability initiative, a city-wide initiative aimed to reduce use of single-use plastic bottled water.

For further information on Emirates NBD, please contact:

Ibrahim Sowaidan
Senior Vice President
Head - Group Corporate Affairs
Emirates NBD
e-mail: ibrahims@emiratesnbd.com

Burson
Dubai, UAE
Email: emiratesnbd@bm.com

About Mastercard

Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we’re building a sustainable economy where everyone can prosper. We support a wide range of digital payments choices, making transactions safe, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential.

www.mastercard.com