MPM Pay, a subsidiary of MPM Group, has obtained a payment service provider license from the Central Bank of the UAE to engage in activities of payment acceptance for merchants and payment aggregation. Abdel Hadi Mohammed, Member of the Board and CEO of MPM Group, stated: 'This license represents more than just a regulatory achievement; it is a strong expression of confidence in our vision and capabilities.' With the Central Bank's license, MPM Pay is uniquely positioned to accelerate the shift towards a cashless economy in the UAE, the Middle East, and North Africa, setting new standards for reliability, security, and customer experience in digital payments. An integrated partner Under the license, MPM Pay is fully authorized to offer comprehensive solutions for payment acceptance for merchants, from onboarding to settlement, and to operate as a licensed payment aggregator across multiple channels. The company also provides secure, scalable, and system-compatible transaction processing for large and rapidly growing enterprises, while enabling small and medium-sized enterprises (SMEs) and government entities to accelerate their transition to a digital cashless economy. This license enhances MPM Pay's ability to expand strategic partnerships with financial institutions and technology providers, as well as to expand its portfolio of value-added services for merchants and partners. It is worth noting that MPM Pay's acquisition of the payment service provider license aligns with the UAE's national agenda to build a flexible and inclusive digital economy. MPM Pay aims to enhance financial inclusion, expand access to digital payments, support the digital transformation of government services and collections, and drive innovation in the payments sector through scalable technological solutions.
