Dubai Finance Partners with NEOPAY to Accelerate Citywide Cashless Transformation
Dubai Finance (DOF) has signed a strategic agreement with NEOPAY, one of the UAE's leading payment solutions providers, to fast-track the city's transition to a cashless economy under the Dubai Cashless Strategy launched in October 2024.
The Memorandum of Understanding, signed by DOF Executive Director Ahmad Ali Meftah and NEOPAY CEO Vibhor Mundhada, aims to strengthen financial digitalisation and innovation across government and private sectors. The initiative is built around three core pillars — Governance, Innovation, and Society — and aligns with the city's broader ambition to lead globally in digital finance.
As part of the agreement, NEOPAY will leverage its advanced fintech capabilities to support the rollout of AI-powered solutions that enhance accessibility, improve transaction efficiency, and provide seamless digital payment options for residents and businesses. 'This partnership with NEOPAY marks a significant milestone in advancing the Dubai Cashless Strategy,'
said Meftah. 'We are fostering a more inclusive and technologically advanced financial ecosystem that benefits the entire society.'
Mundhada echoed the commitment, stating, 'This collaboration reinforces our role in delivering intelligent, secure payment experiences and supporting Dubai's wider financial innovation goals.'
The partnership also supports fintech innovation accelerators aimed at developing user-friendly, high-performance digital payment systems that further entrench Dubai's leadership in the global fintech landscape.
News Source: Dubai Media Office
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