Dubai-based financial technology firm, Paymentology, amplifies operations for regional growth.
In the heart of the Middle East, the United Arab Emirates (UAE) is rapidly becoming a global fintech hub. With over 300 fintech firms active in the market and an expected annual sector growth rate of 35% through 2028, more than double the global average, the region is experiencing a digital banking and payment revolution.
Recently, Paymentology, a global issuer-processor, has announced the opening of a new and expanded office in Dubai. This strategic move is in response to the fast-growing client base and rising demand for advanced, scalable payment infrastructure in the region.
The UAE is witnessing a surge in digital banking adoption, with 89% of consumers now using digital-first bank accounts. This shift is further reflected in the increasing use of digital payments, with digital transactions accounting for approximately 83% of everyday payments, leaving cash usage at just 17%. Real-time digital payment transactions are growing quickly, with the region expected to exceed 3 billion such transactions by 2028.
The prepaid card and digital wallet market is another strong growth area. It is projected to reach about US$12.43 billion by 2029, fueled by government initiatives, increasing digital adoption, and a burgeoning fintech ecosystem. Digital wallets and prepaid cards are becoming popular for consumer payments and enhancing financial inclusion.
Paymentology's expansion in Dubai will serve as a base for client delivery, partner engagement, and operations. The new office will be a strategic hub for delivery, collaboration, and innovation, supporting digital banks and fintechs across the region with next-generation payment experiences.
The company's global network spans 50 countries and 14 time zones, and the expanded team in the Dubai office will consist of local experts. Paymentology combines leading technology with deep local market knowledge, providing its clients with tailored, responsive support wherever they operate.
The Dubai office expansion is a part of Paymentology's continued investment across the Middle East. The company's commitment to the region was recently recognised at the Mawarid Fintech & Innovation Summit 2025, where Paymentology was awarded the Excellence Award for its strong partnerships and outstanding contributions to advancing financial innovation across the Middle East.
Clients and partners of Paymentology include Wio, Mamo, Mawarid Finance, and Zand. The company's services are also instrumental in the success of digital payment solutions like Ziina and Payit, which are replacing traditional bank portals and IBAN-based transfers by enabling faster, phone-number-based transfers, especially among younger users and informal merchants.
As the UAE continues to position itself as a global fintech hub, innovations like app-based payment authentication phasing in, embedded credit solutions at checkout, and mobile wallets replacing traditional transfers are reshaping the digital banking and payment landscape. UAE banks are modernising authentication methods by moving away from SMS and email one-time-passwords (OTPs) toward app-based authentication starting mid-2025.
The comprehensive expansion of digital banking and payments in the UAE is a testament to the country's commitment to a digital-first economy. With the new Paymentology office in Dubai, the region is set to benefit from cutting-edge payment solutions, further accelerating its journey towards becoming a leading fintech frontier.
- Paymentology, a global fintech company, has expanded its operations with a new and expanded office in Dubai, UAE, responding to the increasing demand for advanced payment infrastructure in the region.
- As the UAE transition towards digital banking adoption accelerates, digital transactions are becoming the norm, accounting for approximately 83% of everyday payments, leaving cash usage at just 17%.
- The prepaid card and digital wallet market in the UAE is experiencing growth, with projections of reaching US$12.43 billion by 2029, driven by government initiatives, increasing digital adoption, and a burgeoning fintech ecosystem.
- Paymentology's Dubai office will serve as a strategic hub for client delivery, partner engagement, and operations, providing next-generation payment experiences to digital banks and fintech companies across the region.
- With the continued investment in the Middle East, Paymentology has been recognized for its exceptional contributions to advancing financial innovation across the region, receiving the Excellence Award at the Mawarid Fintech & Innovation Summit 2025.
