Dubai, UAE – Al Ansari Digital Pay, the fintech subsidiary of Al Ansari Financial Services PJSC (DFM: ALANSARI), has received final approvals from the Central Bank of the UAE (CBUAE) for both Stored Value Facility (SVF) and Retail Payment Services and Card Schemes (RPSCS) licenses.
This regulatory milestone clears the path for the Q2 2025 launch of Al Ansari Wallet, positioning it as a comprehensive digital financial ecosystem supporting the UAE’s cashless transformation.
The SVF license enables digital account creation for seamless fund management, while the RPSCS authorization permits prepaid card issuance, merchant payment facilitation, and acquiring services.
The wallet will specifically target unbanked populations with micro-financing solutions and AI-driven features including real-time payments, enhanced fraud prevention, and personalized financial tools.
“This milestone brings us closer to revolutionising digital payments in the UAE by offering a secure, convenient, and inclusive ecosystem,” said Mohammad Bitar, Deputy Group CEO at Al Ansari Financial Services. “As the financial landscape evolves, we are committed to staying ahead by integrating cutting-edge technology and innovative solutions that not only meet today’s demands but also anticipate the needs of tomorrow.”
The company forecasts AED 12 million first-year revenue with 67% CAGR growth projected by Year 3, complementing Al Ansari Financial Services’ existing product portfolio.
