Innovative Digital Wallet Unlocks New Growth Opportunities for DFM-Listed Firm

Al Ansari Financial Services is set to roll out its new fintech platform with the launch of a digital wallet, offering an additional payment method for consumers in the UAE.

The digital wallet has received official approval from the UAE Central Bank, which granted the necessary authorization to Al Ansari Digital Pay, the company’s fintech arm.

The licenses obtained include the Stored Value Facility (SVF) and Retail Payment Services and Card Schemes (RPSCS).

This move further strengthens Al Ansari’s dedication to enhancing financial inclusion and advancing Dubai and the UAE’s goal of transitioning to a cashless economy.

With the SVF license, Al Ansari Digital Pay can now allow users to open digital accounts and manage their funds entirely online.

The RPSCS license enables Al Ansari Digital Pay to offer prepaid cards, facilitate merchant payments, and provide acquiring services for both online and physical stores.

Set to launch in Q2 2025, the Al Ansari Wallet aims to provide a comprehensive fintech solution designed to serve both individual users and businesses.

Digital payment methods have become the standard for a growing number of consumers in the UAE.

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