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ABU DHABI/WAM
In alignment with the UAE Digital Economy Strategy and the Central Bank of the UAE’s (CBUAE) commitment to advancing a secure, inclusive, and innovation-driven national payments ecosystem, the CBUAE, through its Sandbox Programme and Innovation Hub at the Emirates Institute of Finance (EIF), in collaboration with Network International, a leading fintech across the Middle East and Africa, has introduced the region’s first-of-its-kind biometric payment solution leveraging facial and palm recognition technologies.
Currently in its Proof-of-Concept phase, the initiative is being demonstrated at the Dubai Land Department, an entity under the Dubai Government, allowing customers to make payments seamlessly by authenticating their identity through facial or palm biometrics, eliminating the need for physical cards or mobile devices. This cutting-edge solution is enabled by Network International and powered by PopID.
Commenting on the initiative, Saif Humaid Al Dhaheri, Assistant Governor for Banking Operations and Support Services at CBUAE and Vice Chairman of the Board of Directors of the EIF, said, “The Central Bank of the UAE reaffirms its commitment to driving innovation and supporting the nation’s digital transformation. The introduction of biometric payment solutions represents a strategic step to delivering more secure and seamless payment experiences, setting new benchmarks for trust and convenience in financial transactions, while aligning with the UAE’s vision of building a world-leading, innovation-driven digital economy.”
Murat Cagri Suzer, Group Chief Executive Officer of Network International, said, “Network International is proud to lead the way in facilitating biometric payments, working closely with the Central Bank of the UAE to build a future-ready payments ecosystem. Biometric payments represent the next frontier in digital commerce, combining convenience, security and efficiency. We thank the Central Bank of the UAE for its visionary leadership and trusted partnership as we advance the UAE’s position as a global hub for financial innovation and a digital-first economy.”