Instant Cash receives RPSCS license from Central Bank of the UAE

Instant Cash receives RPSCS license from Central Bank of the UAE

Instant Cash, a company within the FINTX portfolio, the fintech arm of Emirates Post Group, and one of the fastest-growing money transfer brands in the region, has received the Retail Payment Services and Card Scheme Regulation (RPSCS) Category 2 Licence from the Central Bank of the UAE (CBUAE), making it the first Money Transfer Operator (MTO) in the UAE to obtain this license.

By achieving this milestone, Instant Cash is poised to accomplish its ambitious expansion strategy, as this license paves the way for local, regional and global expansion, further enabling the company to broaden its scope of services within the money transfer sector.

Obtaining the RPSCS license strengthens Instant Cash’s market position by further building trust with partners, based on a strong regulatory framework.

Ahmed Al Awadi

MD & CEO

FINTX,

Chairman

Instant Cash “We are honored to be granted the RPSCS license by the CBUAE, making Instant Cash the first MTO in the UAE to achieve this feat. This achievement is a significant milestone for FINTX’s strategy of building a fintech ecosystem in the UAE and beyond. The CBUAE’s new regulations, rooted in a vision of providing an effective framework for fintech companies, have provided us with a unique opportunity that we wanted to seize.