Browsing: digital payments

As the United Arab Emirates continues to solidify its position as a global center for trade, finance, and investment, the introduction of Jaywan, its first domestic payment card scheme, marks a major shift in the country’s financial landscape. Developed by Al Etihad Payments under the Central Bank of the UAE, Jaywan is designed to enhance transaction efficiency, reduce dependency on international payment networks, and strengthen the country’s economic resilience.

UAE’s Mashreq Bank announced on Monday that it had successfully completed the sale of a majority stake in Neopay, a digital payments provider. The minority stake has been acquired by a consortium consisting of DgPays and Arcapita Group Holdings Limited.

Magnati, a prominent payments provider, has entered into an agreement with Arabian Automobiles Company (AAC) to offer AAC customers improved payment solutions via Aani, the instant payment platform developed by Al Etihad Payments (AEP).

Apple has introduced ‘Tap to Pay’ on iPhone in the UAE, allowing merchants to securely process contactless payments directly through their iPhones. This feature eliminates the need for traditional point-of-sale (POS) hardware, offering a streamlined solution suitable for businesses of all sizes.