KamelPay launches AbsoluteCard powered by Mastercard, bringing real-time corporate spend management to UAE businesses

KamelPay, the UAE-based fintech reshaping payroll and corporate payments across the GCC, has officially launched AbsoluteCard, a corporate payments management platform and corporate cards powered by Mastercard, issued by Mawarid Finance. The platform brings together a web portal, mobile app, instant virtual IBANs and Mastercard corporate cards into a single ecosystem that gives businesses real-time control over how they spend, manage and move money.

The launch follows the formalisation of KamelPay's collaboration with Mastercard, when Gina Petersen-Skyrme, Country Manager, UAE and Oman at Mastercard, and Ehsan Rahman, Co-founder and CEO of KamelPay, signed the agreement to bring the solution to market. The move marks a significant milestone in advancing digital corporate payments for businesses across the UAE.

AbsoluteCard is designed to reduce the friction of traditional expense management, be it petty cash, delayed reconciliation, or fragmented approvals. CFOs and finance teams can instantly issue virtual IBANs and corporate cards, load funds and manage every business unit, branch and department through one unified control portal.

Every dirham is tracked as it moves, providing near real-time visibility. Spend limits can be configured by card, team or use case, while reconciliation becomes automatic. With AbsoluteCard, finance leaders gain real-time visibility across their entire organisation, rather than relying on reports compiled after the money has already been spent. Instead of digitising legacy expense processes, AbsoluteCard is designed to replace them with a modern corporate payments ecosystem.

"At Mastercard, we are committed to providing businesses of all sizes with smarter, more efficient ways to manage their spend," said Gina Petersen-Skyrme. "Building on our extensive global experience in spearheading commercial payments innovation, we have joined forces with KamelPay to create an integrated digital ecosystem designed to address the evolving needs of UAE companies. AbsoluteCard meets the rising demand for security, simplicity and transparency in every transaction with intuitive ease."

"For too long, SMEs and growing businesses have had to stitch together accounts, cards and approvals across different banks and systems, only to find out what was spent after the fact," said Ehsan Rahman. "AbsoluteCard changes that. For businesses, it brings real-time control into spending. For banks and financial institutions, it is a ready-to-deploy solution they can offer their own clients without having to build new infrastructure, leveraging KamelPay's technology and deep corporate payments expertise. Our collaboration with Mastercard helps enable broad acceptance across its global network."

Mastercard has chosen KamelPay for its award-winning global startup engagement programme Start Path from a select group of high-potential fintechs in the MENA region. KamelPay also holds in-principle approval (IPA) from the Central Bank of the UAE for its Stored Value Facility (SVF) and Retail Payment Services (RPS) licences.

Small businesses are a cornerstone of the UAE’s diversified economy, accounting for around 95% of registered companies and contributing 63.5% of the country’s non-oil GDP. Their central role in driving innovation and growth is reinforced by the National Agenda for Entrepreneurship and SMEs, which aims to position the UAE as an entrepreneurial nation.