Tap Payments gains retail payment services licence in UAE

GlobalData

Wed, Apr 9, 2025, 5:05 AM 2 min read

Tap Payments has secured a retail outgo services licence from the Central Bank of the UAE, marking the afloat regulatory support crossed the Gulf Cooperation Council (GCC) countries.

This authorisation allows Tap Payments to run wrong the regulatory frameworks of each six GCC nations, including Saudi Arabia, Kuwait, Qatar, Bahrain, Oman, and the UAE.

Tap Payments UAE managing manager Ahmad Alwazzan added: “Joining the UAE’s exclusive radical of licenced outgo providers marks a important milestone for us. This licence enhances our quality to connection businesses successful the UAE market-leading, secure, and businesslike outgo products portion ensuring afloat compliance with section regulations.”

Tap Payments CEO and co-founder Ali Abulhasan stated: “This licence is simply a pivotal measurement successful our ngo to unify and simplify payments crossed the region. With regulatory approvals successful each GCC market, we are uniquely positioned to assistance businesses standard locally and grow crossed borders, portion operating wrong a trusted, afloat compliant framework.”

The company, established by Abulhasan successful 2014, offers outgo solutions that facilitate transactions for businesses wrong the Middle East and North Africa (MENA) region.

Tap Payments' services are designed to enactment cross-border commerce and supply against fraudulent activities.

Its clientele spans assorted industries, which includes UAE-based companies specified arsenic flydubai, Wego, Insurance Market, Prypco, and Lulu Hypermarkets, arsenic good arsenic determination players similar Talabat, Careem, Trendyol, Marks & Spencer, BYD Auto, Tim Hortons, and TikTok.

In November 2024, the institution collaborated with Mastercard to motorboat a Click to Pay with Payment Passkey service, aimed astatine enhancing the eCommerce experience.

The rollout commenced successful the UAE, with plans to gradually widen it to further markets crossed the Middle East, Eastern Europe, and Africa.

"Tap Payments gains retail outgo services licence successful UAE " was primitively created and published by Electronic Payments International, a GlobalData owned brand.