Dubai First, the consumer finance company of Dubai Group, has teamed up with MasterCard Worldwide to launch a complete corporate solutions package, to address the financial needs of medium to large sized companies in the UAE.

With the launch of the Dubai First MasterCard Corporate Card, Dubai First has cemented its position as a multi-product card issuer, addressing the consumer and corporate segments of the market, said a company official.

The Dubai First MasterCard Corporate Card will provide convenience, control, and unmatched service as part of a complete corporate solutions package.

Aimed at companies that deal with a variety of corporate expenses by employees, the Card offers a cost-effective solution to efficiently manage and streamline expenses, analyse spending patterns and allocate budget for future spending.

Ibrahim Al Ansari, CEO, Dubai First, said, "The release of the Dubai First MasterCard is a major milestone for us as our corporate strategy places enormous emphasis on commercial enterprises that play a significant role in Dubai’s economic growth."

According to Ansari, the Dubai First MasterCard Corporate Card is designed to be an effective management tool in controlling company and employee business expenses.

"Employee expenditure figures considerably on the financial statements of every business organization. Coming at a time when businesses are required to make judicious use of their resources, this card will be seen as an invaluable and indispensible tool in fiscal planning, since it conveniently allows both the employer and the staff member to keep a close and responsible tab on expenditure," he explained.

The reconciliation statement at the corporate and individual level brings transparency to a company’s financial and operational expenditures, enabling a company to better manage and control the overall business expenses.

The Dubai First MasterCard Corporate Card also allows the employer the flexibility to set or modify an employee’s credit line for business purposes.

Ravi Bhardwaj, country corporate officer, Dubai First UAE, said the card will not only address the needs of existing corporations in Dubai, but also set the standard for service in this product category.

"Through its focus on effective control, efficiency and savings, the Dubai First MasterCard Corporate Card ensures a clear focus on achieving expense management goals, while facilitating an easier bill payment mechanism for employees," he added.

Eyad Al-Kourdi, country manager, UAE, MasterCard Worldwide, said, "At MasterCard, we understand that procurement needs of corporations go far beyond traditional payment cards."

"We are delighted to collaborate with Dubai First to strengthen their customer relationships through the launch of an end-to-end integrated payment solution from MasterCard. This product will allow corporations to track, manage, report and control their business expenses,” he added.-TradeArabia News Service