The bank’s liquidity profile remains strong as evidenced by an advances to stable resources ratio of 76% and an eligible liquid asset ratio of 16%, both comfortably above regulatory thresholds
Mercury Payments Services (Mercury), a fast-growing regional payments infrastructure and services provider, has announced that it has been granted an in-principle approval for the issuance of a retail payment services license by the Central Bank of UAE.
Mercury, founded and incorporated in UAE in 2016, has been building its product and services portfolio over the last three years since its acquisition by Unitey Digital and its consortium partners in 2021, and this license further solidifies Mercury’s plans to be a key contributor in the development of payments services ecosystem in the UAE.
Muzaffer Hamid, CEO of Mercury, said: "We are thrilled to have achieved this important milestone. This is a testament to our commitment to leverage technology to foster financial well-being for all and reaffirms our commitment to our core values of driving sovereignty and financial inclusion. With this license, Mercury is well placed to accelerate its growth trajectory and play a pivotal role in shaping the future of payments in the UAE. I would like to express my sincere gratitude to the Central Bank of UAE for their trust and confidence in Mercury."
Mercury designs, deploys, and manages digital payments ecosystem that enable sovereignty and inclusion. It is a technology-driven, solution-oriented organisation with decades of experience in the payments domain. Mercury is on a mission to democratise financial services, level the playing field and drive cashless ecosystems.
For more information, please visit www.mercury-pay.com.
The bank’s liquidity profile remains strong as evidenced by an advances to stable resources ratio of 76% and an eligible liquid asset ratio of 16%, both comfortably above regulatory thresholds
Binghatti Hills is set to become the most expansive development within the community
Life Pharmacy’s flagship outlet at Al Wasl has crossed a benchmark of serving over five million customers
This event aims to honour and showcase the remarkable achievements of women and provide an inspiring platform for empowerment and growth
Construction to begin this year on state-of-the-art Thumbay Veterinary Hospital At Thumbay Medicity
The Tiago has been instrumental in driving Tata Motors’ consistent growth in the hatchback segment
The evening was a resounding success, boasting delectable cuisine, a lively ambiance, and impeccable service
The cashback is valid until May 12