US-based payment card services corporation Visa has entered a collaboration with First Abu Dhabi Bank (FAB) to provide the Visa B2B Connect network in the region. By merging Visa’s technology with FAB’s financial knowledge, the two entities intend to further support global financial operations of the United Arab Emirates (UAE).

Through this strategic partnership, Visa and FAB aim to optimise corporate cross-border payments, enabling businesses in the region to conduct secure and convenient transactions across the world. In addition, the current announcement marks a substantial move for both companies as it aligns with their shared commitment to improvement and advancement in the financial sector. Visa B2B Connect and its benefits to FAB As a non-card-based multilateral platform, Visa B2B Connect was developed to offer predictable, secure, and cost-efficient cross-border payments to financial institutions and their corporate clients.

The platform works towards optimising international transactions by minimising the number of intermediaries involved, thus enhancing transparency and safety. Furthermore, by utilising Visa’s technology, FAB intends to improve its payment offerings and solidify its position in the market as a provider of transaction banking services in the UAE. Also, by combining FAB’s market reach and financial insights with the Visa B2B Connect network, the two companies are set to improve the bank’s ability to provide advanced payment solutions to corporate clients across the region. Their current move highlights the potential advantages that collaboration could bring to FAB and Visa’s global connectivity while using their combined features to provide solutions to clients. As FAB currently provides its services across 20 global markets, the collaboration with Visa is set to further support it in optimising the customer experience and accelerating digital transformation.

This also assists the UAE in its global integration of businesses and digitalisation journey. According to Visa’s officials, by working together with FAB, the company advances its allegiance to offer secure and efficient payment solutions to businesses, with the bank’s extensive network enabling the firm to increase adoption of its platform across the UAE. .