Ajman Bank signs agreement with VaultsPay

Ajman Bank, one of the UAE’s leading Shariah-compliant banks, has signed a partnership agreement with VaultsPay, a UAE Fintech Company, to develop and implement a highly innovative payments value proposition for UAE businesses and individuals. This collaboration will serve as the foundation for future growth in digital financial solutions in the UAE, significantly altering the way customers manage their finances through more intuitive and intelligent functionalities.

“We are pleased to collaborate with VaultsPay as part of our ongoing commitment to strengthen the payments infrastructure with the most advanced, secure, and cashless payment solutions,” said Mr. Mohamed Amiri, Chief Executive Officer of Ajman Bank. Our goal is to build a strong electronic payment ecosystem powered by data and insights in order to improve the safety and security of electronic payments. It complements our strategy and vision of providing the most innovative products and services to our customers.”

In collaboration with Vaults Pay, this strategic partnership will allow Ajman Bank to expand its existing payments business capabilities and provide individuals and businesses with digital access to a full suite of financial services in the UAE.

“We are excited to partner with Ajman Bank and launch a unique acquiring host platform that will provide a comprehensive payment gateway solution and card issuing services via a customer-centric and secure digital app-based platform,” said Mr. Ahmed Bin Braik, Chairman of VaultsPay.

 VaultsPay was founded in April 2020 in UAE, inspired by the UAE’s National Payment System Strategy of moving towards a cashless society. Since then, VaultsPay has achieved many significant milestones and gained a significant market share in a relatively short period of time, which is gradually increasing. VaultsPay aspires to grow beyond the UAE and become the leading Fintech firm in the MENA region.

“Having Ajman Bank as our trusted banking partner will provide VaultsPay with a strong foundation to deliver the first SuperApp for the UAE for all types of products and a seamless customer experience for businesses and individuals through an innovative payment platform and superior service delivery,” said Mr. Abdulla AL Suwaidi, CEO of VaultsPay. Ajman Bank and VaultsPay’s collaboration will provide the first UAE acquiring host platform for other acquirees and payment service providers.”

VaultsPay has created a one-of-a-kind payment gateway platform that is designed, built, and managed in-house by an experienced team of developers. The platform is audited and certified annually in accordance with PCI DSS Level 1. VaultsPay has successfully partnered with emall.ae, a world-class e-commerce platform that enables enterprise users to offer and sell products, as well as individuals and enterprise entities to purchase products.

About VaultsPay

VaultsPay was founded in the UAE in April 2020, with UAE Local capabilities and an ambitious vision. Since then, VaultsPay has achieved many significant milestones and gained a significant market share in a relatively short period of time, which is gradually increasing.

VaultsPay has created the first SuperApp for UAE users in collaboration with Ajman Bank, which offers Acquiring and Issuing services, a Market Place, and Wallet Services.

VaultsPay has created a one-of-a-kind payment gateway platform that is designed, built, and managed by our experienced in-house development team. The platform is audited and certified annually in accordance with PCI DSS Level 1. VaultsPay has successfully partnered with “emall.ae,” a first-rate e-commerce platform that allows enterprise users to offer and sell products, as well as individuals and enterprise entities to purchase products. VaultsPay aspires to be the most popular payment app in the UAE.

For more information visit https://vaultspay.com/