The financial services landscape in the United Arab Emirates (UAE) is experiencing a significant transformation with the recent partnership between Reem Finance and Visa. This collaboration aims to introduce cutting-edge digital payment solutions that cater to the diverse needs of individuals, small to medium-sized businesses, and international corporations.
With a focus on enhancing customer experience and providing seamless, secure, and rewarding payment solutions, Reem Finance CEO Seraj Faidi expressed the company's commitment to delivering substantial value to shareholders and satisfying customer needs. This strategic partnership comes at a pivotal time as Reem Finance embarks on a rebranding journey to offer more digital-focused retail offerings and reach a broader customer base.
Visa's Vice President and Country Manager for UAE, Salima Gutieva, emphasized the importance of meeting customers' demands for enhanced payment experiences. By collaborating closely with Reem Finance, Visa aims to advance the local payments sector and FinTech ecosystem in the region.
The UAE has emerged as a frontrunner in adopting digital shopping features, with a staggering 94% of adult shoppers utilizing these technologies during their recent purchases. This trend highlights the growing demand for convenient and secure digital payment solutions in the region.
In addition to the partnership with Reem Finance, Visa has also teamed up with Alaan to provide digital expense management solutions to businesses in the UAE and Saudi Arabia, leveraging innovative AI technologies to streamline financial processes. Furthermore, Visa's collaborations with Abhi and YellowPepper aim to revolutionize account-to-account payments in the UAE, offering customers an immediate, reliable, and cost-effective way to transfer funds.
Overall, the partnership between Reem Finance and Visa signifies a significant step towards driving digital innovation in the financial services industry in the UAE, ultimately shaping the future of payment solutions and customer experiences in the region.