Page 64 - AAE PR REPORT - MARCH 2025

3/26/25, 9:10 AM Al Ansari Digital Pay Receives Final Approval for Digital Wallet Launch in UAE
Al Ansari Digital Pay secures final approvals to launch digital

wallet

Initiative advances financial inclusion and the UAE’s cashless society
Published: Tue 25 Mar 2025, 1:07 PM

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Mohammad Bitar, deputy group CEO, Al Ansari Financial Services
Dubai: This 128-year-old
Dubai: This 128-year-old
mosque in Al Shindagha Al Ansari Digital Pay, the fintech arm of Al Ansari Financial Services PJSC (DFM:
mosque in Al Shindagha
still hosts daily prayers ALANSARI), has secured final approvals from the Central Bank of the UAE
still hosts daily prayers
(CBUAE) for both the Stored Value Facility (SVF) and Retail Payment Services
and Card Schemes (RPSCS) licenses. This marks a pivotal step toward the
official launch of its state-of-the-art digital wallet, reinforcing the company’s
commitment to financial inclusion and driving the UAE’s vision of a cashless
economy. This milestone follows the In Principle approval granted by the CBUAE,
marking the final step before the official launch of operations.

With the SVF license, Al Ansari Digital Pay can allow users to open digital
accounts, offering customers a seamless, secure and efficient way to manage
their funds digitally. Meanwhile, the RPSCS license will enable the company to
issue prepaid cards, facilitate merchant payments, and provide acquiring services
for both online and retail businesses, further expanding its fintech capabilities.

31 Dec, 2023
Abu Dhabi Sheikh Zayed Festival fireworks

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