Wex, a London-based fintech solutions provider, announced an agreement with Mastercard to enter the Middle Eastern payments market with virtual cards in the United Arab Emirates.

The agreement, which has been approved by the Central Bank of the UAE, will allow automated, secure and streamlined domestic and international supplier payments in the UAE that are settled in dirhams, the local currency, without foreign exchange charges. 

"In partnership with Mastercard, we have been working to strengthen our offering across Europe, the Middle East and Africa," Anant Patel, vice president for Wex, EMEA and APAC, said in a company release. "We are delighted to offer our corporate payments solution to the UAE market, helping businesses to offer new value from payments."

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