Tap Payments has secured a retail payment services licence from the Central Bank of the UAE, marking the full regulatory approval across the Gulf Cooperation Council (GCC) countries.
This authorisation allows Tap Payments to operate within the regulatory frameworks of all six GCC nations, including Saudi Arabia, Kuwait, Qatar, Bahrain, Oman, and the UAE.
Go deeper with GlobalData
Tap Payments UAE managing director Ahmad Alwazzan added: “Joining the UAE’s exclusive group of licenced payment providers marks a significant milestone for us. This licence enhances our ability to offer businesses in the UAE market-leading, secure, and efficient payment products while ensuring full compliance with local regulations.”
Tap Payments CEO and co-founder Ali Abulhasan stated: “This licence is a pivotal step in our mission to unify and simplify payments across the region. With regulatory approvals in every GCC market, we are uniquely positioned to help businesses scale locally and expand across borders, while operating within a trusted, fully compliant framework.”
The company, established by Abulhasan in 2014, offers payment solutions that facilitate transactions for businesses within the Middle East and North Africa (MENA) region.
Tap Payments’ services are designed to support cross-border commerce and provide against fraudulent activities.
Its clientele spans various industries, which includes UAE-based companies such as flydubai, Wego, Insurance Market, Prypco, and Lulu Hypermarkets, as well as regional players like Talabat, Careem, Trendyol, Marks & Spencer, BYD Auto, Tim Hortons, and TikTok.
In November 2024, the company collaborated with Mastercard to launch a Click to Pay with Payment Passkey service, aimed at enhancing the eCommerce experience.
The rollout commenced in the UAE, with plans to gradually extend it to additional markets across the Middle East, Eastern Europe, and Africa.
