Comera Pay, the fintech company licensed by the Central Bank of the UAE and part of Abu Dhabi’s Royal Group, has been granted a Principal Membership by Visa. This significant achievement empowers Comera Pay to directly issue its own Visa Prepaid and Debit cards, paving the way for the launch of a new multicurrency offering for consumers in the UAE.
Launching a Multicurrency Offering
The new membership enables Comera Pay to introduce a multicurrency payment solution designed to give users the flexibility to transact seamlessly both in the UAE and internationally. Customers will be able to choose from a range of Visa card tiers tailored to different lifestyles, including the everyday convenience of Visa Classic, the enhanced benefits of Visa Platinum, and the exclusive privileges of Visa Infinite. This offering will integrate the Comera Pay wallet with Visa’s extensive global acceptance network.
A Strategic Push Towards a Cashless Economy
This development directly supports the UAE’s strategic vision for digital transformation and the transition to a cashless economy. By providing consumers with more convenient and secure digital payment options, the partnership enhances the local fintech landscape. Akhtar Saeed Hashmi, Managing Director & Group CEO of Comera Financial Holdings, stated, “Securing Principal Membership with Visa is a transformative milestone for Comera Pay. As part of the Royal Group and regulated by the Central Bank of the UAE, we proudly align with Abu Dhabi’s digital vision.”
Strengthening Fintech Innovation
The collaboration has been welcomed by Visa as a key step in bolstering the region’s innovation ecosystem. “This milestone will enable Comera Pay to bring innovative, secure, and globally accepted payment solutions to UAE consumers and businesses,” commented Salima Gutieva, Visa’s VP and UAE Country Manager. She added that the partnership strengthens “the country’s position as a hub for fintech innovation and digital commerce.”
About Comera Pay
Comera Pay is a financial technology company licensed and regulated by the Central Bank of the UAE. As part of Abu Dhabi’s Royal Group, the company is focused on developing and enabling secure, innovative, and seamless payment solutions. It aims to support the UAE’s digital transformation goals by providing users with advanced and convenient ways to manage their finances.
Source: MEA TechWatch
