Tap Payments receives payment services licence from Central Bank of UAE

WAM
08 Apr 2025, 19:14 GMT+10

DUBAI, 8th April, 2025 (WAM) -- Tap Payments announced today that it has obtained a licence to provide commercial payment services from the Central Bank of the United Arab Emirates, in a step that strengthens the company's presence in the UAE market.

The company emphasised in a press release the importance of the UAE market, which is the largest in the region in the field of financial technology and payments, hosting 184 companies specialized in this vital sector.

According to the press release, the digital payments sector in the UAE is witnessing rapid growth, with the total value of transactions expected to reach about US$80.37 billion by 2025, at a compound annual growth rate estimated at 13.8 percent through 2029, exceeding US$134.84 billion by that year.

Ali Abulhasan, Co-Founder and CEO of Tap Payments, said, "This licence represents a pivotal achievement in our journey to unify and simplify digital payments in the region."

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Perth Herald.

More Information

null in null

International Business

Section

Vegetable oil price surge stabilizes global food costs in March

World food prices steady in March, UN's FAO says

PARIS, France: A spike in vegetable oil costs helped steady global food prices in March, offsetting declines in other staples like...

Tap Payments receives payment services licence from Central Bank of UAE

DUBAI, 8th April, 2025 (WAM) -- Tap Payments announced today that it has obtained a licence to provide commercial payment services...

Pakistan can say goodbye to IMF by tapping mineral wealth: PM Shehbaz Sharif

Islamabad [Pakistan], April 8 (ANI): Pakistan Prime Minister Shehbaz Sharif on Tuesday said that Pakistan could free itself from reliance...

Xinhua Photo Daily | April 8, 2025

BEIJING, April 8 (Xinhua) -- A selection of the best press photos from Xinhua. Artists perform the traditional Chinese Wu Opera...

Karnataka Dy Chief Minister Shivakumar directs officials to prevent flow of sewage water into Bengaluru lakes

Bengaluru (Karnataka) [India], April 8 (ANI): Karnataka Deputy Chief Minister DK Shivakumar has directed officials to prevent the flow...

Amid Trump Tariffs, US Trade Representative highlights need to secure market access for US fuel ethanol in India, Thailand

Washington DC [US], April 8 (ANI): With tariffs imposed by US President Donald Trump beginning to kick in, the United States Trade...

Australia

Section