The UAE Central Bank grants MBME Pay a payment services provider license

The Central Bank of the Emirates granted the payment services company MBME Pay, a subsidiary of the MBME Group, a payment services provider license to engage in the activities of accepting payments for merchants and collecting payments.

Under the license, MBME Pay is fully authorized to provide integrated payment acceptance solutions to merchants from onboarding to settlement, act as a licensed payment aggregator across multiple channels, and provide secure, scalable and systems-compatible transaction processing for companies of large size and rapid growth, in addition to enabling companies, small and medium enterprises, and government agencies to accelerate the shift towards a cashless digital economy.

It is worth noting that MBME Pay’s obtaining a payment services provider license from the Central Bank is in line with the UAE’s national agenda to build a flexible and comprehensive digital economy.

Managing Director and CEO of MBME Group, Abdul Hadi Mohamed, said: “With our obtaining the Central Bank license, MBME Pay is positioned to accelerate the shift towards a cashless economy in the UAE and the Middle East and North Africa region, while setting new standards for reliability and customer experience in digital payments.”
MBME Pay occupies a position within a dynamic technology ecosystem of the MBME Group, linking consumers, merchants, and institutions. Through this system, MBME Pay works to integrate advanced payment technologies, application programming interfaces, financial services, and digital platforms into a unified and organized offering, as well as supporting innovative payment experiences across e-commerce, the retail sector, services, and government channels, in addition to enabling secure and seamless payments that meet the changing expectations of businesses and consumers in the UAE. UAE and the Middle East and North Africa region.