Visa announced a significant partnership with First Abu Dhabi Bank (FAB), the largest bank in the United Arab Emirates, to expand the Visa B2B Connect network in the region.
The collaboration aims to enhance corporate cross-border payments, allowing businesses in the UAE to conduct secure and efficient transactions worldwide.
The agreement was signed by Sanjay Sethi, Head of Global Transaction Banking at FAB, in the presence of Sara Al Binali, Group Head of Corporate and Commercial Banking at FAB, and Shahebaz Khan, Senior Vice President, Head of Commercial & Money Movement Solutions for Visa B2B Connect, CEMEA. This partnership marks a strategic milestone for both companies, reflecting their shared commitment to innovation and excellence in the financial sector.
Visa B2B Connect is a non-card-based multilateral platform designed to provide predictable, secure, and cost-effective cross-border payments for financial institutions and their corporate clients. The platform simplifies international transactions by reducing the number of intermediaries involved, improving efficiency and transparency.
By leveraging Visa’s cutting-edge technology, FAB aims to enhance its innovative payments offerings and strengthen its position as a leading provider of transaction banking services in the region. With FAB’s extensive market reach and financial expertise, integrating with the Visa B2B Connect network will enhance the capabilities to offer superior payment solutions to corporate clients across the region.
The partnership underscores the value of collaboration in supporting FAB and Visa’s global connectivity while leveraging their combined capabilities to offer innovative solutions for clients. FAB has a global footprint across 20 markets, offering clients a comprehensive range of cutting-edge products that enable regional and international trade. The partnership enhances customer experience and accelerates digital transformation, supporting the UAE in its global integration of businesses.
“We are excited to welcome FAB to the Visa B2B Connect network,” said Vishal Virmani, Head of Visa B2B Connect CEMEA at Visa. “This partnership represents a significant step forward in our mission to provide seamless, secure, and efficient payment solutions for businesses. FAB’s market leadership and extensive network will be instrumental in driving the adoption of our platform across the UAE.”
