fintech / news / / The Economic Times
Visa has appointed Emirates NBD as its National Net Settlement Service agent.
Visa has appointed Emirates NBD as its National Net Settlement Service agent in the UAE.
KEY POINTS
- Domestic Visa card transactions in the UAE will now settle locally in dirhams, reducing processing time.
- The new local settlement system reduces reliance on international payment networks for everyday transactions.
- Settling transactions locally may help UAE banks avoid international processing and currency conversion fees.
- Businesses in UAE, especially e-commerce, will benefit from faster access to funds due to quicker settlement.
COMPANIES
Summarized by Newsio from The Economic Times. How we summarize →