Abu Dhabi, November 9 (WAM) - Abu Dhabi continues to establish its position as a global center for financial technology, taking advantage of an integrated system that links start-ups with financial institutions, investors and international partners, which enhances the transformation of technological innovations into commercial solutions, and supports the establishment, growth and expansion of companies from the emirate.

The "Hub71" ecosystem, Abu Dhabi's global technology system, stands out as one of the main drivers of this growth by connecting start-ups with government entities, institutions, companies, investors and global partners, which enables them to access new business opportunities and markets. The cumulative value of commercial deals concluded by start-ups within its community with institutions amounted to AED 897 million.

The collaboration between "Hub71" and "Mastercard", coinciding with the latter's celebration of 40 years of presence in the United Arab Emirates, reflects the integrated efforts aimed at supporting the future of financial technology and artificial intelligence, and enhancing the digital economy, particularly through the role of "Mastercard" as a partner in the "Hub71+ AI" ecosystem specialized in artificial intelligence.

Through its technology, expertise and global network, Mastercard is supporting startups in Hub71 in the areas of payments, financing for small and medium-sized enterprises (SMEs), embedded finance, digital assets and sustainability. A number of these collaborations have evolved into long-term strategic partnerships that have led to innovative solutions and market entry.

Among them are ABHI, which was founded in Pakistan and connected with Mastercard through the Start Path program to explore collaboration opportunities in the areas of embedded finance and early wage access; and NymCard, which was founded in Beirut and has a strategic partnership with Mastercard for card issuance and payment processing, including card issuance solutions for SMEs, cross-border payments, Mastercard Send service and digital payment innovations.

The collaboration also extends to other areas of financial innovation. Pemo, a platform specializing in the management of expenses for small and medium-sized enterprises (SMEs), is working with Mastercard on the development of commercial payment card solutions and expense management, as well as exploring new opportunities in cross-border payments and value-added services.

Mastercard is also collaborating with CarbonSifr, a company specializing in climate technology, to explore solutions that enable companies to measure and reduce their carbon footprint. This enhances the use of financial technology (fintech) to support sustainability and responsible economic practices.

In the field of digital assets, cooperation with startups in the “Hub71” community continues through a strategic partnership with BitOasis to develop crypto-linked payment cards. Startale has recently joined the Mastercard Crypto program, reflecting the expanding scope of innovation in payment solutions and digital assets.

Bisma Ahmed Al Badi Al Zahiri, Head of Growth and Value Added at Hub71, said that the Abu Dhabi ecosystem draws its strength from its ability to connect innovative startups with suitable partners across various sectors, providing them with real opportunities in the markets.

She added that cooperation with Mastercard exemplifies how these connections can be transformed into fruitful business relationships that help founders test the viability of their solutions, reach new markets, and expand their businesses. She emphasized that Hub71 focuses on creating opportunities and providing support and relationships that enable startups to grow from Abu Dhabi and expand into global markets.

Mastercard’s role extends beyond direct collaboration with startups; it connects them with a wide network of card-issuing banks, payment acceptance points, transaction processors, digital banking service partners, investors, and fintech companies. This enables founders to benefit from specialized expertise, build business partnerships, develop their solutions, launch them in the market, and explore opportunities for expansion within the global financial services ecosystem.

For her part, Gina Peterson Skirum, First Vice President and Regional Manager for the United Arab Emirates and Oman at Mastercard, said that the next generation of financial innovation depends on how effectively ideas are connected with technology and opportunities. She noted that cooperation with Hub71 brings together the ambitions of Abu Dhabi’s fintech community with Mastercard’s technologies, expertise, and global network to support the transformation of innovative ideas into solutions that meet actual market needs.

She added that as Mastercard celebrates 40 years in the United Arab Emirates, it continues its commitment to supporting trade, developing the digital economy, and providing more opportunities for individuals and businesses to achieve their full potential.

As part of expanding cooperation opportunities, Hub71 allows startups within its community to explore opportunities to work with Mastercard through a number of initiatives, including the “Mastercard Lighthouse UAE” program, which was launched in collaboration with the Office of the Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications in the United Arab Emirates.

The program connects promising startups whose solutions are based primarily on artificial intelligence with financial institutions, investors, industry experts, and ecosystem partners to support the development of their solutions and explore business opportunities available to them.

This cooperation reflects a model for integrating the roles of global institutions, companies, and ecosystems that support entrepreneurship in Abu Dhabi. This enhances the emirate’s ability to attract innovation and develop new financial solutions, and reinforces its position as a platform for startups to launch into regional and global markets.