Page 90 - AAE PR REPORT - MARCH 2025

3/26/25, 9:15 AM Al Ansari Digital Pay Gains Key Licenses for Wallet Launch - 2025-03-2...

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Press release
Summary
Al Ansari Digital Pay, the fintech division of Al Ansari Financial Services, has received final approvals from the Central Bank of the UAE for
licenses necessary to launch its digital wallet. This development supports financial inclusion and the UAE's move towards a cashless
society. The approvals include the Stored Value Facility (SVF) and Retail Payment Services and Card Schemes (RPSCS) licenses,
allowing the company to offer digital accounts, prepaid cards, and payment services for businesses. The Al Ansari Wallet, a
comprehensive mobile application, is set to launch in Q2 2025, providing financial services to both individuals and businesses, including
those without traditional banking access. The initiative aims to enhance digital payment solutions in the UAE.

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