KamelPay Launches AbsoluteCard Corporate Payments Platform in UAE
KamelPay launched AbsoluteCard on Jul 16, 2026, a corporate payments management platform featuring Mastercard-powered corporate cards issued by Mawarid Finance. The product combines a web portal, mobile app, instant virtual IBANs and corporate cards into one ecosystem for UAE businesses. Finance teams can issue cards, load funds and set spend limits by card, team or use case through a single control portal.
Reconciliation is automated, and spend is tracked in near real time. Mastercard selected KamelPay for its Start Path global startup engagement programme from a group of high-potential MENA fintechs. KamelPay holds in-principle approval from the Central Bank of the UAE for Stored Value Facility and Retail Payment Services licences.
Financial terms of the arrangement were not disclosed.
- Growing UAE corporate compliance requirements are driving demand for integrated embedded card and payments platforms
- Demonstrates the sponsor bank model gaining foothold in MENA corporate fintech