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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.
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.
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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.
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1,000 Drones Light The Dubai Sky For AC Milan Celebration
Cyberdrone’s groundbreaking display marked 125 years of AC Milan football club and the 1st-year anniversary of Casa Milan Dubai.
Cyberdrone, a leading UAV display company based in Dubai, put on a breathtaking drone light show on Monday to honor two significant football milestones: AC Milan’s 125th anniversary and the one-year anniversary of Casa Milan Dubai.
The spectacle involved 1,000 drones working in perfect harmony to project AC Milan’s iconic imagery against the city’s night sky. Highlights included the UAVs synchronizing to form the club’s iconic crest, the signature red and black jersey, and a special emblem marking its 125th year. The intricate performance demanded meticulous planning, not just in terms of choreography, but also in dealing with the necessary permits and logistics.
“Our goal was to spotlight AC Milan’s legacy through a stunning visual narrative,” explained Mohamed Munjed Abdulla, Director of Sales at Cyberdrone. “We celebrated the club’s history, its Dubai milestone, and the universal love for football. The show also enhanced AC Milan’s regional presence, growing its fanbase through a cutting-edge, memorable experience. Drone shows are unparalleled in leaving lasting impressions, making them perfect for driving partnerships and growth”.
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Greta Nardeschi, AC Milan’s Regional Director for MENA, echoed the sentiment, adding: “Collaborating with Cyberdrone for this 1,000-drone performance allowed us to connect with our fans in innovative ways. It gave us a unique opportunity to surprise and inspire audiences while elevating our Club’s visibility and that of our partners. Cyberdrone truly helped us take AC Milan to new heights”.
This groundbreaking drone display sets a new benchmark for the Middle East’s sports sector, which already contributes around $2.4 billion annually to Dubai’s GDP alone. Sporting events also generate $1.76 billion in revenues across the region, while the MENA’s entertainment sector, valued at $41.13 billion, is growing at 9.41% annually, driven by rapid technological advancements.
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