Dubai, UAE; 28 November 2023: Ajman Bank has initiated a strategic partnership with Mastercard to launch cross-border payment services for person-to-person (P2P) fund transfers through Ajman Bank’s Digital Banking application. With this collaboration, the bank will provide real-time remittances across more than 40 countries worldwide through its digital banking platform.
As part of Ajman Bank’s digital strategy, one of the key highlights of this collaboration is the introduction of instant remittance services, seamlessly integrated into ‘Ajman Bank Digital Banking’ app. Ajman Bank’s Mastercard-powered remittance solution allows people to send and receive money around the world almost instantly.
With nominal transfer fees and user-friendly features, Mastercard Cross-Border Services facilitates the movement of funds to any end point across over 140 countries through one secure connection, reaching 95% of bank accounts worldwide almost instantly.
“At Ajman Bank, we are committed to contributing to the UAE’s development journey by providing state-of-the-art financial services. With this robust remittance platform, we will be able to address our customer’s needs by offering them almost real-time funds transfer through our Digital Banking. With its advanced technology, global expertise and ever-growing remittance footprint, Mastercard is our preferred partner for cross-border remittances that will significantly enhance our customer offering and allow to us to achieve global reach,” said Faizal Kundil – Head of Consumer Banking at Ajman Bank.
“For many people, remittances are a vital way to stay connected to their communities. At Mastercard, we are providing communities with fast, convenient, secure and affordable ways to transfer funds internationally. We are delighted to deepen our relationship with Ajman Bank as we introduce Mastercard Cross-Border Services to its customers,” said Gina Petersen-Skyrme, Vice President and Country Business Development Lead, UAE & Oman, Mastercard
Recognizing the need for speed in today's fast-paced world, Mastercard Cross-Border Services have been optimized for quick and efficient fund transfers. This ensures that customers can complete their desired transactions promptly, which is particularly advantageous for urgent financial needs. To promote transparency, the solution is equipped with a real-time tracking feature, so users can stay informed about the progress of their transactions.
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