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3/26/25, 9:15 AM Al Ansari Financial Services Launches Digital Wallet - UPPERNEWS - UAE news, Dubai news, technology news
TECHNOLOGY

AL ANSARI FINANCIAL SERVICES LAUNCHES DIGITAL

WALLET FOR UAE CONSUMERS

25.03.2025 BY UPPERNEWS TEAM 3 0

Al Ansari Financial Services is set to launch a new digital wallet, enhancing payment options for consumers in the UAE. The fintech platform, known as Al
Ansari Digital Pay, has received final approval from the UAE Central Bank for its digital wallet initiative. This approval includes licenses for the Stored Value
Facility (SVF) and Retail Payment Services and Card Schemes (RPSCS).

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The introduction of the Al Ansari digital wallet aligns with the company’s goal of promoting financial inclusion and supporting the UAE’s vision of becoming a cashless
economy. With the SVF license, users will be able to open digital accounts to manage their funds electronically. Additionally, the RPSCS license will enable Al Ansari to
issue prepaid cards, facilitate merchant payments, and provide acquiring services for both online and retail businesses.

Scheduled to launch in the second quarter of 2025, the Al Ansari Wallet aims to offer a comprehensive fintech solution tailored for individual consumers and businesses.
According to the company’s statement, the platform will empower unbanked and underbanked communities by providing accessible and affordable financial services,

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