Fuze, a rapidly growing financial infrastructure provider in the Middle East, has obtained a Retail Payment Services and Card Schemes (RPSCS) license from the Central Bank of the UAE (CBUAE). This approval allows Fuze to operate as a regulated payment services provider in the region through its subsidiary, Niobe Payment Services LLC SPC.

With this new license, businesses will benefit from faster and more secure payment options, reduced transaction times, and comprehensive compliance with regulations. Fuze is set to implement a robust payment infrastructure that emphasizes advanced technology and a seamless user experience while ensuring compliance at every step.

According to Mohammed Ali Yusuf, CEO and Co-Founder of Fuze, this license serves as a crucial foundation for the next generation of payments. He expressed excitement about the opportunity to provide AI-enabled infrastructure that can transform payments and support various businesses. Fuze is dedicated to enhancing the digital payment landscape in line with the UAE Digital Economy Strategy, which aims to increase the digital economy’s contribution to the country’s GDP to 19.4% by 2032.

Fuze’s innovative platform will offer a range of features including digital payments and settlements through real-time infrastructure, an AI-driven compliance and fraud detection engine, virtual IBANs for easier payment collection, and merchant tools designed to help UAE-based businesses manage payments effectively.

Having launched in 2023, Fuze has quickly become a trusted partner for banks, fintechs, and financial institutions across MENA, Turkey, and South Asia. The company is well-positioned to address various financial infrastructure challenges, including digital asset integration and the development of scalable financial products for the future.