UAE’s Ajman Bank, the leading Shariah-compliant bank in the nation, is set to sign a deal with a good fintech company, VaultsPay, which will provide financial solutions to businesses and individuals.
This partnership will not only help the fintech company but will also increase the capability of the Bank regarding payments as the introduction of new digital access financial services to the clients and businesses will help the people understand the importance of digital payments.
In the partnership between VaultsPay and Ajman Bank, the people using these platforms will be heavily benefited because of the services they will provide, like easy payment options and other rewards.
CEO of Ajman’s Bank, Mohamed Amiri, stated that they are looking to develop an electronic payment ecosystem that will be used to increase the safety and security of the accounts’ payments.
Furthermore, these digital payments will help people understand how things work digitally and the time and effort it saves. Apart from it, the collaboration will act as a foundation for the future, where most of the work will be done digitally, and hence the customers will be able to manage their finances easily.
How Will This Deal Between Ajman Bank And VaultsPay Help The UAE?
In 2020, UAE started moving towards a cashless society and was looking to adopt digital payment services. And thus, VaultsPay came into the plan and was founded in 2020 to meet people’s expectations.
With the deal, VaultsPay expanded its business and achieved great heights, with its shares rising significantly in such a short time. VaultsPay has been growing in UAE, and in the future, they will be looking to expand their territory in other countries too.
Apart from that, the CEO of VaultsPay, Mr. Abdulla AL Suwaidi, stated that they are overwhelmed to share that Ajman Bank will join them. Thus it will help them to provide an amazing and secure platform to the users for digital payments.
For their users, it is essential that they have a good business experience within the electronic payment system. Hence, they will be looking to acquire other digital payment systems too.
The developer team of VaultsPay has developed a perfect system that is giving an overwhelming response to the users who have been using it for a long time. Furthermore, they have stated that the platform created is audited, secured, and certified annually with PCI DSS Level 1.
To make sure that the customers of VaultsPay don’t get any problems with the payments for the required things, the company has partnered with email. ae, which is an amazing eCommerce platform that can be used to sell and buy products within their range.
VaultsPay has acquired several marketplaces and has been giving services to people who have been adopting digital payments widely. In the future, VaultsPay will be looking to be the most used digital payment service available to users; hence, they are working on the right track now.
But they have to ensure that they regularly update their payment gateway with new features. The super App created by VaultsPay will be highly beneficial if one understands the gifts and rewards they will get for the payments.
The wallet option associated with the App can create a major difference in the life of users, as the main motive of VaultsPay is to create a cashless society.