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Mercury granted in-principle approval for a Retail Payment Services license by UAE Central Bank

The license further solidifies Mercury’s plans to be a key contributor in the development of payments services ecosystem in the UAE

Mercury Payments Services (Mercury), a fast-growing regional payments infrastructure and services provider, has announced that it has been granted an in-principle approval for the issuance of a retail payment services license by the Central Bank of UAE.

Mercury, founded and incorporated in UAE in 2016, has been building its product and services portfolio over the last three years since its acquisition by Unitey Digital and its consortium partners in 2021, and this license further solidifies Mercury’s plans to be a key contributor in the development of payments services ecosystem in the UAE.

Muzaffer Hamid, CEO of Mercury, said: "We are thrilled to have achieved this important milestone. This is a testament to our commitment to leverage technology to foster financial well-being for all and reaffirms our commitment to our core values of driving sovereignty and financial inclusion. With this license, Mercury is well placed to accelerate its growth trajectory and play a pivotal role in shaping the future of payments in the UAE. I would like to express my sincere gratitude to the Central Bank of UAE for their trust and confidence in Mercury."

Mercury designs, deploys, and manages digital payments ecosystem that enable sovereignty and inclusion. It is a technology-driven, solution-oriented organisation with decades of experience in the payments domain. Mercury is on a mission to democratise financial services, level the playing field and drive cashless ecosystems.

For more information, please visit www.mercury-pay.com.