Comera Pay secures Visa Principal Membership enabling it to issue cards directly in the UAE while launching a multicurrency product.

Comera Pay, part of Abu Dhabi’s esteemed Royal Group and regulated by the Central Bank of the UAE (CBUAE), has been awarded Principal Membership by Visa, a global giant in digital payments. This significant development empowers Comera Pay to independently issue Visa Prepaid and Debit cards within the UAE, thereby bolstering its reputation as a pioneering fintech entity providing secure and streamlined payment solutions.

With this new status, Comera Pay is set to introduce a multicurrency offering designed to facilitate both local and international transactions for consumers and businesses. Customers will have access to various tiers of Visa cards, each catering to specific needs:

  • Visa Classic – ensuring security and ease for daily transactions
  • Visa Platinum – offering enhanced benefits and lifestyle perks
  • Visa Infinite – providing exclusive privileges and global access

The integration of the Comera Pay wallet with Visa’s expansive acceptance network will enhance user experience through increased flexibility, faster settlements, and secure multicurrency options. This initiative aligns with the UAE’s national goals for digital transformation towards a cashless economy, affording consumers greater convenience in financial management.

Akhtar Saeed Hashmi, Managing Director & Group CEO of Comera Financial Holdings, remarked: “Obtaining Principal Membership with Visa marks a pivotal step for Comera Pay. It expands our capacity to provide innovative financial solutions that are globally accepted while underscoring our dedication to security and convenience. Our forthcoming Multicurrency offering is poised to empower users with confidence in managing their finances seamlessly.”

Salima Gutieva, Visa’s VP and UAE Country Manager expressed: “We warmly welcome Comera Pay as a Visa Principal Member. This achievement allows them to deliver cutting-edge payment solutions within the UAE, further establishing the country as a nexus for fintech advancement and digital commerce.”

The anticipated launch of the new Comera Pay Multicurrency product is imminent, positioning Comera Pay at the forefront of an evolving fintech scene. With backing from the Royal Group and CBUAE oversight, Comera Pay is strategically equipped to support the UAE's aspirations as a leader in global digital finance.