Dubai, UAE: Mashreq – a leading financial institution in the MENA region – has launched Visa Commercial Pay on Mobile (VCP Mobile), a next-generation virtual card payment solution for business and corporate clients in the UAE.

The VCP Mobile platform leverages Visa’s global payment network to enable real-time virtual card issuance, advanced spend controls, and seamless mobile integration, helping businesses streamline vendor payments and manage liquidity securely. VCP Mobile is also available to Mashreq’s NEO BIZ customers, enhancing the corporate customer offering and strengthening the bank’s position as a digital leader in the financial sector.

“VCP Mobile is a strategic leap forward in enabling smarter, faster, and more secure digital payments for businesses,” said Kartik Taneja, Head of Payments & Consumer Lending at Mashreq. “The launch of this platform reinforces our mission to be the region’s most progressive challenger bank, delivering future-ready solutions that empower our corporate customers to take full control of their financial operations in today’s digitally connected world.”

VCP Mobile addresses the growing need for secure, transparent, and real-time digital payment solutions enabling several use cases, such as removing the need for petty cash, enabling fleet and fuel management for freight and logistics companies, and managing corporate and business travel and entertainment spends, all through a single intuitive mobile interface. VCP Mobile is seamlessly integrated into Mashreq’s broader transaction banking capabilities, making it a powerful addition to the bank’s working capital and cash management suite.

“We are excited to support Mashreq in launching VCP Mobile,” said Salima Gutieva, Visa’s VP and Country Manager for the UAE. “Solutions such as VCP Mobile are critical in driving innovation across B2B payment flows and delivering the transparency, security, and speed businesses demand. We look forward to supporting Mashreq in tailoring solutions to support the digital transformation of local businesses and the growing needs of the UAE’s digital economy.”

The VCP Mobile platform allows Mashreq’s corporate clients to modernize their payment operations and optimize working capital in a secure, scalable way, supporting the bank’s mission to empower its corporate clients with future-ready financial tools.

As part of Mashreq’s continued commitment to empowering small- to medium-sized enterprises (SMEs), VCP Mobile will also be available to customers of NEO BIZ, the bank’s award-winning digital business banking platform.

About Mashreq

Mashreq is more than half a century old, yet proudly thinks like a challenger, startup, and innovator. Mashreq has pioneered key innovations and developments in banking, starting with entry-level digital-first customers all the way to powering some of the region’s most prominent corporations and wealth accounts.

The bank’s mandate is to help customers find their way to Rise Every Day, partnering through the highs and lows to help them achieve their goals and unlock their vision of success.

Reassuringly present in major financial centers of the world, Mashreq’s home and global HQ remains in the Middle East, offering services whenever and wherever opportunity takes its customers. Mashreq has been recognized as the fastest-growing Middle East brand, by Banking 500 rankings for 2024 by Brand Finance.

Find your way to Rise Every Day at: www.Mashreq.com

For media inquiries, please write to: media@mashreq.com

About Visa

Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.