Fuze Secures UAE Central Bank License to Power Next-Gen Payments

Fuze , one of the Middle East’s fastest growing financial infrastructure providers, has received approval from the Central Bank of the UAE (CBUAE) for a Retail Payment Services and Card Schemes (RPSCS) license.

Fuze Group, through its subsidiary Niobe Payment Services LLC SPC, is now both a fully licensed operator for digital assets infrastructure and, through its payments infrastructure division, a regulated payment services provider for the region.

The new license will enable businesses to benefit from faster, more secure payment options, reduced transaction times and end-to-end compliance. Backed by a strong regulatory foundation, Fuze is rolling out a robust payment stack that brings together advanced technology, seamless user experience, and built-in compliance.

This license is the launchpad for the next generation of payments. It marks a key step in our mission to provide digital and AI-enabled infrastructure that will drive the future of finance and transform payments. We are privileged to be granted this license from the Central Bank and look forward to providing cutting-edge, compliant payment infrastructure and novel solutions – like virtual IBANs – for a range of businesses.

– Mohammed Ali Yusuf (Mo Ali Yusuf), CEO and Co-Founder, Fuze

Fuze’s technology will enhance digital payments, supporting the UAE Digital Economy Strategy, which aims to double the contribution of the digital economy to the UAE’s GDP to 19.4 per cent by 2032. The new license is a significant milestone for Fuze, which is committed to building the infrastructure for the future of finance. It complements Fuze’s existing infrastructure for digital assets, providing comprehensive innovative financial infrastructure tailored for the MENA region.

Powering a New Payment Era 

Through its strong regulatory foundation, Fuze is now launching a new payment platform that combines AI-driven technology, user-friendly design, and integrated compliance features, to simplify and support modern business needs.

With the license in place, Fuze will soon roll out a comprehensive, compliant suite of payment products for modern businesses, fintechs and marketplaces. Much like building a playlist, businesses can select the services they need and skip the ones they don’t, ensuring a flexible and scalable set-up. Its features include:

– Digital payments and settlements through real-time infrastructure

– AI-enhanced compliance and fraud detection engine

– Virtual IBANs to make it easier to collect payments and manage funds

– Merchant tools to help UAE-based businesses to manage payments and grow

Strategic Expansion 

Launched in 2023, Fuze is a ‘Future 100’ business that works closely with regulators and has rapidly established itself as a trusted partner for banks, fintechs, and financial institutions across MENA, Turkey, and South Asia. As a Group, Fuze is well-positioned to help enterprises solve a variety of financial infrastructure challenges, from navigating digital assets and crypto integration, to payments rails, and building scalable financial products for the future.