Tap Payments has secured a license from the Central Bank of the United Arab Emirates (CBUAE) to provide commercial payment services, the company announced today.
In a press release, the payment processor highlighted the importance of the EAU market, which leads the region in financial technology and payments with 184 specialized companies operating in the sector.
CBUAE Papprove Tap Payerss
“This license repeats a fundamental achievement in Ourney to unify and simplify digital payments in the region,” said Ali Abulhasan, co -founder and CEO of Tap Payments.
The digital payment industry in the EAU continues to expand quickly, with projected transaction values to reach $ 80.37 billion by 2025.
It is forecast that the sector will grow at a compound annual rate or 13.8 percent to 2029, when transaction values are expected to be $ 134.84 billion.
“This license repeats a fundamental achievement in Ourney to unify and simplify digital payments in the region,” said Ali Abulhasan, co -founder and CEO of Tap Payments.
The new license strengthens the company’s position in the EAU market as the company continues its regional expansion.
