News

Checkout.com Gains Acquiring License From UAE Central Bank

The direct acquiring license allows Checkout.com to unlock the full potential of its platform in the UAE while offering cost savings and improved performance for merchants.

Published

2 years ago

May 24, 2023

Nour Nasir

checkout.com gains acquiring license from uae central bank

The United Arab Emirates Central Bank has granted Global payment service provider Checkout.com a Retail Payment Services license. The recent press release by the platform notes that Checkout.com is “the first global payments provider to be granted an acquiring license in the country”, and the announcement strengthens its position as a leader across the MENA region.

Now that Checkout.com has secured an acquiring license, the company can unlock its full proposition for UAE merchants, including card acquiring, payment aggregation, and cross-border fund transfers. Most importantly, Checkout.com’s new acquiring license gives the company greater control over the entire payment processing mechanism and enables best-in-class payment acceptance rates for merchants.

“Our thanks to the Central Bank of the UAE for their approval. The issuance of this license shows the level of trust, commitment, and strength of the relationship we continue to have in serving both domestic and international brands to expand in the UAE. We’re proud of the small part we’ve played to increase the trust in digital payments and allow businesses in the digital economy to thrive,” says CEO and Founder of Checkout.com, Guillaume Pousaz.

Also Read: Paymob Gets Official Certification To Operate In Saudi Arabia

The UAE has recently witnessed an explosive eCommerce growth trajectory. It is forecast to reach a Compound Annual Growth Rate (CAGR) of 11%, increasing the eCommerce market size to $17Bn by 2025. 91% of consumers in the UAE now favor making their purchases online, and Checkout.com already supports some of the country’s top brand names, including Cafu, Washmen, Shahid, Qlub, Carrefour, Namshi, Mamo, MakeMyTrip, and The Entertainer.

Related Topics:Checkout.com FinTech United Arab Emirates

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News

Yabi Introduces AI Financial Coach For Smarter Money Moves

The app provides real-time, personalized financial guidance, helping UAE residents manage money smarter, reduce debt, and build wealth effortlessly.

Published

11 hours ago

February 22, 2025

Nour Nasir

Yabi

Imagine having 24/7 access to an expert financial advisor — someone who understands your spending habits, helps you save more effectively, and offers guidance for every financial decision. That’s the vision behind Yabi’s revamped platform, an AI-driven finance app designed to transform personal finance management in the UAE.

Unlike traditional budgeting tools, Yabi acts as an always-available AI advisor, analyzing your unique spending patterns and offering real-time, tailored financial advice. Whether you’re making everyday purchases, planning a big trip, or saving for a major milestone, Yabi keeps you on track and helps you make informed financial choices.

Rakhil Fernando, CEO of Yabi, explains the mission behind the platform: “Financial literacy is not optional — it’s essential. But most financial tools today feel outdated and overly complex. Yabi is here to change that by offering AI-powered financial coaching that’s smart, simple, and accessible to everyone in the UAE”.

Here are some of the updated app’s new features:

AI-Powered Financial Coach: A 24/7 digital advisor providing real-time financial guidance based on your spending habits and available in multiple languages.
Live Insights: Connect your bank accounts for a detailed breakdown of your expenses.
Tailored Budgeting: Yabi creates a budget that fits with your actual spending habits rather than generic financial advice.
Interactive Financial Education: Learn the essentials of saving, investing, and credit management through engaging content integrated into the AI experience.
Automated Expense Tracking: Receive instant alerts on overspending, identify hidden charges, and cut unnecessary subscriptions with ease.
Credit Score & Financial Health Monitoring: Get free credit score checks and AI-driven recommendations to enhance your financial standing.

Also Read: A Guide To Digital Payment Methods In The Middle East

Finally, Yabi is also gearing up to introduce its own debit card and a suite of financial products, making it easier to save, spend, and invest within a single platform.

Want to try Yabi for yourself? You can download the app on the Apple App Store and Google Play Store.