Reem Finance and Visa Collaborate on Digital Payment Solutions in the UAE

Reem Finance, a financial services provider in the United Arab Emirates (UAE), has announced a strategic partnership with Visa to enhance its digital payment solutions. This collaboration will introduce contactless-enabled Visa cards and digital wallets to serve a wide range of customers, including individuals, small to medium-sized businesses (SMBs), and international corporations.

In a press release on Monday, Reem Finance CEO Seraj Faidi expressed the company’s commitment to delivering substantial value to shareholders and meeting customer needs through innovative payment solutions. The new offerings come at a time when Reem Finance is undergoing a rebranding process to focus more on digital retail services and cater to a broader customer base.

Visa’s Vice President and Country Manager for UAE, Salima Gutieva, highlighted the importance of delivering seamless, secure, and rewarding payment experiences to customers. The partnership aims to advance the local payments sector and FinTech ecosystem in the region by collaborating closely with Reem Finance to achieve shared objectives.

According to PYMNTS Intelligence, the UAE has rapidly adopted digital shopping features, with 94% of adult shoppers using at least one such feature during their most recent purchase. This trend underscores the growing demand for digital payment solutions in the region, making the partnership between Reem Finance and Visa timely and strategic.

This collaboration follows other recent partnerships between Visa and leading companies in the region, such as Alaan and Abhi, to provide digital expense management solutions and account-to-account payments. These alliances leverage Visa’s global payment processing network and innovative technologies to offer customers convenient and cost-effective payment options.

Overall, the partnership between Reem Finance and Visa signifies a significant step towards enhancing the digital payment landscape in the UAE and meeting the evolving needs of customers in the region. By introducing cutting-edge payment solutions and leveraging Visa’s expertise in the payments industry, Reem Finance aims to strengthen its position in the finance sector and deliver a superior payment experience to its customers.