Home » ‘Comera Pay Receives Approval to Enhance UAE’s Digital Payment Growth’

‘Comera Pay Receives Approval to Enhance UAE’s Digital Payment Growth’

by Dubaiforum

Comera Pay, the fintech arm of Comera Financial Holding based in the UAE, has recently obtained preliminary approval from the Central Bank of the UAE to operate under two significant financial licenses. The Stored Value Facilitator (SVF) and Retail Payment System Clearing Service (RPSCS) licenses grant the company the ability to facilitate stored value transactions and offer retail payment system clearing services.

With these licenses, Comera Pay is now able to introduce payment solutions that simplify and secure transactions for both merchants and consumers. By utilizing advanced data encryption technologies, the company aims to enable faster digital payments and contribute to the advancement of the UAE’s cashless economy.

Managing Director of Comera Financial Holding, Akhtar Saeed Hashmi, expressed excitement about the approval, stating, “We are thrilled to receive this approval which allows us to bring our vision for Comera Pay to life. By fostering healthy competition and expanding access to financial services, we believe Comera Pay can help enrich the payments landscape while supporting broader financial inclusion goals in the UAE and region.”

In addition to its fintech arm, Comera Pay also offers the Comera communications app, providing voice, video, and messaging services with top-notch encryption standards for enhanced connectivity and security for users globally.

Moreover, the company recently announced a strategic collaboration with Beltone Holding, a financial institution in Egypt. This partnership aims to jointly develop new fintech products and drive digital transformation across the region by leveraging complementary expertise and networks to meet the evolving demands of customers.

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