Ziina Gets UAE Licence

The Central Bank of the UAE has granted Ziina a Retail Payment Services Category III licence, allowing the company to facilitate domestic transactions and merchant payments. This development is significant for the UAE's fintech sector, as it enables Ziina to expand its services and offer a more comprehensive platform for users. With this licence, Ziina can now provide a range of payment services, including domestic fund transfers and merchant acquiring.

The licence also enables Ziina to offer businesses various tools to accept payments, such as online payment gateways and payment links. Additionally, the company can provide QR payments and Tap to Pay services, making it easier for merchants to accept payments from customers. According to Ziina's co-founder and chief executive, Faisal Toukan, the company aims to create a unified platform for users to manage their finances, including spending, holding money, and sending it abroad.

What the licence covers

The Retail Payment Services Category III licence granted to Ziina covers a range of services, including payment aggregation and domestic transactions. This means that Ziina can now handle transactions between businesses and individuals, as well as facilitate payments between different entities. The company's digital wallet, introduced in 2024, has been a key part of its services, and the new licence will enable Ziina to expand its offerings and provide more comprehensive financial services to its users.

In August 2026, the Central Bank of the UAE approved Ziina to conduct Exchange Business Category IV activities, which allows the company to offer overseas transfers through its digital channels. This approval is an extension of Ziina's existing stored value facility (SVF) licence, which it has held since 2024. With this approval, Ziina can now provide users with a more seamless experience, enabling them to send money abroad and manage their finances more easily.

Why it matters for UAE merchants

The new licence and approval granted to Ziina are significant for UAE merchants, as they enable the company to provide a more comprehensive range of payment services. With Ziina's platform, merchants can now accept payments more easily, and users can manage their finances more seamlessly. According to Faisal Toukan, Ziina's goal is to create a unified platform that brings together different aspects of financial management, making it easier for users to spend, hold, and send money abroad.