The Banking Executive Issue - October 2025 Issue

Mastercard Mastercard LAUNCHES AGENTIC PAYMENTS IN UAE Mastercard has announced the intro- duction of Agent Pay in the UAE, marking its first transaction outside the US. As part of this pilot phase, Master- card is collaborating with Majid Al Futtaim and fintech Dataiera. The launch event was attended by Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digi- tal Economy, and Remote Work Ap- plications; Mastercard CEO Michael Miebach; and Ahmed Galal Ismail, Chief Executive Officer of Majid Al Futtaim Holding. When launched, cardholders will be able to use their AI agent to search, discover and transact through Mas- tercard Agent Pay, including booking theatre tickets at VOX Cinemas with ease. Omar Al Olama emphasised that, guided by the UAE’s leadership, the nation has become a global hub and destination for adopting and support- ing advanced technologies and ini- tiatives that enhance well-being, strengthen its global competitiveness and leadership, and elevate its posi- tion as a leading hub for world-class AI applications. Al Olama added that the UAE has set a new global benchmark in embrac- ing and deploying artificial intelli- gence to simplify everyday life, advancing innovations that enhance the efficiency, reliability, and quality of digital interactions. He noted that the introduction of the AI Agent in payment solutions represents a sig- nificant milestone, opening new horizons for the growth and develop- ment of the UAE’s digital economy. Dimitrios Dosis, President, Eastern Europe, Middle East and Africa, Mas- tercard, said, “As AI becomes a trusted companion in people’s digital lives, payments must evolve to match its intelligence with integrity. Mastercard Agent Pay ensures that agentic commerce is built on trans- parency, consent and security, em- powering consumers and businesses to engage confidently in this new era of commerce." Ahmed Galal Ismail, Chief Executive Officer, Majid Al Futtaim Holding, commented, “As a pioneer in retail and lifestyle innovation, Majid Al Futtaim sees AI as a transformative force shaping the future of commerce and human interaction. Collaborat- ing with Mastercard on Agent Pay al- lows us to explore how intelligence and integrity can coexist in digital transactions - creating systems that prioritise trust, transparency, and consumer confidence. This collabo- ration is not just about convenience; it’s about setting a framework for re- sponsible innovation that redefines how people shop, pay, and engage in a connected world.” ISSUE 202 OCTOBER 2025 the BANKING EXECUTIVE 87