ADIO And Mastercard Launch Digital Partnership Programme In Abu Dhabi

The Abu Dhabi Investment Office (ADIO) and Mastercard have formed a significant alliance to initiate the Digital Partnership Programme in Abu Dhabi. This programme aims to stimulate economic growth and improve government services using Mastercard's payment infrastructure. The agreement was formalised during Abu Dhabi Finance Week, aligning with Mastercard's Digital Country Partnership (DCP) initiative.

Mastercard's DCP offers a collaborative framework for partners to achieve key innovation, productivity, and economic goals. It applies cutting-edge technologies in payments, security, and AI to tackle pressing social and economic issues faced by governments, businesses, and citizens. The programme will introduce advanced financial technologies to digitise government payment systems and support SME growth.

The partnership will empower fintech companies through Hub71, Abu Dhabi's global tech ecosystem. Mastercard's Advanced AI Centre of Excellence will work with ADIO to develop innovative AI and blockchain products. These efforts aim to boost the emirate's gaming industry and other high-growth sectors by leveraging Abu Dhabi's advanced financial infrastructure.

Under this agreement, ADIO and Mastercard will explore business opportunities within Mastercard's portfolio that can serve regional and global markets. They will co-develop financial solutions that drive impactful, sustainable economic outcomes. This collaboration will enhance existing customer offerings by providing tailored financial products and tools.

Key stakeholders in Abu Dhabi will be supported in payment digitalisation efforts through this partnership. Initiatives like offering prepaid cards to the unbanked for pension payments are part of these efforts. Such solutions have the potential for global impact, positioning Abu Dhabi as a leader in the financial services sector.

Prepaid travel cards tailored for Abu Dhabi's growing traveller and expatriate populations are also planned. Integration with Mastercard's priceless.com platform will provide dedicated marketing channels, a custom landing page, and access to a global network showcasing attractions like hotels, museums, and entertainment events.

Badr Al-Olama, Director-General of ADIO, remarked on the importance of fostering a digitally connected economy as a core aspect of Abu Dhabi's economic transformation. "Fostering a digitally connected economy is an essential pillar of Abu Dhabi's economic transformation," he said. "Through our collaboration with Mastercard, we will leverage Abu Dhabi's status as a leader in innovative digital services to further empower SMEs, attract global talent and elevate the emirate's thriving tourism sector."

This initiative represents a crucial step in the emirate’s digital transformation journey. It advances their vision of creating an environment where businesses thrive and sets new standards for sustainable growth.

Dr. Dimitrios Dosis from Mastercard expressed pride in collaborating with ADIO to shape Abu Dhabi’s future as an innovation hub. "We are proud to collaborate with ADIO in shaping Abu Dhabi's future as a global hub for innovation and economic growth," he stated. "This partnership underscores our commitment to deploying transformative technologies and boosting financial inclusion to create real impact."

The collaboration between ADIO and Mastercard signifies a strategic move towards enhancing digital services across various sectors in Abu Dhabi while promoting sustainable economic development.

With inputs from WAM