Page 45 - AAE PR REPORT - November 2023

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11/21/23, 9:50 AM Al Ansari Digital Pay receives reg u at ory nod for digital wal et
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Al Ansari Digital Pay receives reg u at ory nod for digital wal et
Khaleej Times · 21 Nov 2023 · Staff Report busi ness@khalee times.com
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Al Ansari Digital Pay, a sub si di ary of Al Ansari Fin an cial Ser vices PJSC has received the ini -
tial approval of a store value facil it ies and retail pay ment ser vice pro vider licence from the

Cent ral Bank of the UAE.

Aligned with the gov ern ment's ‘cash less soci ety' ini ti at ive and in sup port of the ‘ n an cial
inclu sion' agenda, Al Ansari Digital Pay is set to intro duce its digital wal let. Envi sioned as
the rst of its kind, the digital wal let is slated for launch in Q2 of 2024. This plat form aims

to rede ne the land scape of digital trans ac tions by provid ing a secure, user-friendly envir -
on ment for both con sumers and busi nesses to facil it ate fast, con veni ent, and secure digital
trans ac tions.
Al Ansari Digital Pay's plat form is designed to provide a seam less peer-to-peer (P2P)

trans fer solu tion and a com pre hens ive pay ment exper i ence tailored for all Uae-based cus -
tom ers. Through this plat form, users can con veni ently receive salary, remit money
domest ic ally and abroad, settle bills, and access vari ous digit ally enabled ser vices using a
per sonal QR code, a ded ic ated app, or their phone num ber. This advance ment brings the Al

Ansari Fin an cial Ser vices Group one step closer to cre at ing an optim ised and diver si ed
digital onestop-shop mar ket place.
With a vast con sumer base exceed ing four mil lion cus tom ers, we are con d ent that this
ini ti at ive will sig ni c antly bene t a large seg ment of con sumers across the UAE. Our aim is

to sim plify the n an cial exper i ences of our users.”
Rashed A. Al Ansari Group CEO of Al Ansari Fin an cial Ser vices
Game changer
Rashed A. Al Ansari, Group CEO of Al Ansari Fin an cial Ser vices, said: “Al Ansari Fin an cial

Ser vices is com mit ted to enhan cing the lives of our users through cut ting-edge tech no -
logy. Al Ansari Digital Pay is a game changer and embod ies our vis ion to cre ate a ntech
plat form that com ple ments our pos i tion as a lead ing digital ser vices pro vider. With a vast
con sumer base exceed ing 4 mil lion cus tom ers, we are con d ent that this ini ti at ive will

sig ni c antly bene t a large seg ment of con sumers across the UAE. Our aim is to sim plify
the n an cial exper i ences of our users, provid ing them with the free dom to man age and
access their funds while pri or it ising respons ible n an cial prac tices. This is our com mit -
ment to a more n an cially secure and user-cent ric future.”

Addi tion ally, the digital wal let will empower users with the tools required to make prudent
n an cial decisions, giv ing them pur chas ing power and seam less access to funds and trans -
ac tion his tory for both per sonal and busi ness needs. This devel op ment under scores the
group's com mit ment to enhan cing the digital n an cial land scape in the region. Fur ther -

more, the digital wal let will o er micro- n an cing options through stra tegic part ner ships
with licensed n an cial insti tu tions, con trib ut ing to n an cial empower ment and inclu sion.

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