The signing of this partnership comes as Mastercard unveiled its latest global Center for Advanced AI and Cyber Technology in Dubai.

The initial pact aims to increase artificial intelligence capabilities and readiness in the region. Mastercard's new center will support an Innovation Hub in the Emirate of Dubai.

Under this program, governments and businesses across the region will collaborate on recent efforts to support the continued digital transformation.

"By embracing the power of AI through this new partnership, we are ushering in the next generation of transformative technology, and actively supporting the National Artificial Intelligence Strategy 2031," said Dimitrios Dosis, president, Eastern Europe, Middle East and Africa, Mastercard.

Price Action: MA shares are trading higher by 0.57% to $405.10 on the last check Monday.