Mastercard and HSBC Middle East have joined forces to introduce the Mastercard Wholesale Program (MWP) in the Middle East, with a specific focus on the travel industry. By leveraging Mastercard’s virtual card innovation, the initiative seeks to streamline and secure B2B travel transactions. Khalid Elgibali, chief operating officer, Eastern Europe, Middle East and Africa at Mastercard, emphasized in the release the importance of card payments in driving the travel economy. Kyle Boag, head of global payments solutions for HSBC in the Middle East, North Africa and Türkiye region, highlighted the significance of digital tools in maximizing sales opportunities for customers. B2B payments play a significant role in powering the travel economy, and the Mastercard Wholesale Program aims to accelerate the adoption of virtual cards for travel transactions, bringing benefits across the travel value chain.

Source: The North Africa Journal May 30, 2024 23:55 UTC