Partnership strengthens the UAE’s digital payments infrastructure
Visa has appointed Emirates NBD as its official National Net Settlement Service (NNSS) Agent in the UAE, allowing Visa’s domestic card transactions to be settled by Emirates NBD locally in UAE Dirhams (AED) in lieu of international settlement.
The collaboration enhances the UAE’s domestic settlement capabilities and equips Visa clients with greater flexibility to automate and manage their local settlement obligations.
A Visa NNSS Settlement Agent (typically a licensed bank or financial institution) facilitates local settlement for participating Visa clients by managing fund transfers for domestic Visa transactions in accordance with Visa’s network standards. As Visa’s NNSS Agent in the UAE, Emirates NBD will streamline domestic settlements in AED, supporting enhancements to the settlement processes.
Partnership
To mark the partnership, Salima Gutieva, Visa’s VP and Country Manager for the UAE, and Anith Daniel, Group Head of Transaction Banking Services at Emirates NBD, signed the NNSS agreement at the Emirates NBD headquarters in Dubai.
“We are confident that Emirates NBD’s proven expertise and strong regional standing will enable us to deliver ongoing improvements to our settlement services for our ecosystem partners,” stated Fadi Moukaddem, Visa’s SVP and Group Country Manager for UAE, Kuwait, and Qatar.
“This appointment reflects Visa’s confidence in our financial service capabilities as we continue to strengthen our commitment to supporting issuers, acquirers and partners across the UAE,” complemented Ahmed Al Qassim, Group Head of Wholesale Banking, Emirates NBD.
