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Ajman Bank & AFS Forge Payment Partnership
6 Jul
Summary
- Ajman Bank and AFS signed an MoU for merchant acquiring services.
- The partnership aims to strengthen digital payment infrastructure.
- Cooperation covers issuing, processing, and corporate banking solutions.
Ajman Bank and Arab Financial Services (AFS) have entered into a significant memorandum of understanding, focusing on enhancing merchant acquiring and payment capabilities. This strategic alliance is designed to bolster the digital economy by strengthening the infrastructure that supports essential business transactions and payments.
The collaboration will encompass a range of services, including payment issuing and processing, as well as corporate banking solutions. Both institutions aim to explore opportunities that will elevate merchant services and expand payment functionalities for businesses.
AFS, established in 1984 and owned by 36 financial institutions, brings extensive experience to the partnership. The company serves over 60 clients across more than 20 countries in the Middle East and Africa, recently partnering with Libyan Islamic Bank to modernize Libya's payment landscape.
