Dubai – Sharikat Mubasher: RAKBANK and Mastercard announced they have renewed their strategic partnership to accelerate payment innovation and introduce enhanced digital banking solutions for retail, business and wholesale banking customers across the UAE.

According to a joint press release, the renewed collaboration will focus on expanding digital transactions, embedded commerce and next-generation payment technologies, supporting the UAE's ambition to accelerate digital payment adoption and strengthen its position as a global digital economy hub.

As part of the partnership, RAKBANK customers will gain access to new in-app controls that allow them to personalize card benefits, manage card usage and benefit from advanced authentication features designed to enhance security while reducing reliance on SMS-based one-time passwords.

The collaboration will also strengthen corporate and commercial card offerings, enabling businesses to improve expense management, supplier payments, cash flow and working capital efficiency.

Commenting on this, Raheel Ahmed, Group CEO of RAKBANK, said the partnership reflects the bank's commitment to delivering intelligent, personalized payment experiences wherever customers choose to transact. Meanwhile, Dimitrios Dosis, President of Eastern Europe, Middle East and Africa at Mastercard, said the collaboration combines Mastercard's global technology expertise with RAKBANK's customer-centric approach to make digital payments simpler, safer and more rewarding.