Ajman Bank has signed a Memorandum of Understanding (MoU) with Arab Financial Services (AFS), the Middle East and Africa’s leading digital payments solutions provider and fintech enabler, to collaborate across merchant acquiring, payment issuing, processing services, and corporate banking solutions.
The collaboration reflects a shared commitment to supporting the continued evolution of the payments landscape through secure, scalable, and integrated financial services.
By bringing together banking and payments expertise, Ajman Bank and AFS will work together to evaluate opportunities that enhance merchant services, strengthen payment capabilities, and support businesses operating in an increasingly digital economy.
Mustafa Al Khalfawi CEO – Ajman Bank
“As digital commerce continues to evolve, strengthening the infrastructure that supports payments and business transactions remains a strategic priority. Through this collaboration, we aim to explore opportunities that enhance merchant services, expand payment capabilities, and support businesses with solutions that are aligned with their evolving needs. Partnerships of this nature play an important role in building a more connected and resilient financial ecosystem.”
The MoU establishes a framework for both organizations to collaborate across merchant acquiring services, payment issuing and processing opportunities, and corporate banking solutions. It also provides a platform for ongoing discussions around commercial, operational, and technology initiatives that support long-term growth and innovation.
Dr. Samer Soliman, Group Chief Executive Officer of Arab Financial Services (AFS), said that, “Our collaboration with Ajman Bank is a commitment to deliver a platform that makes payments completely straightforward and deeply integrated. We are putting a highly intuitive solution directly into the hands of business owners so they can focus on growth.”
According to the statement, the collaboration supports the shared ambition of both organizations to advance payment capabilities, strengthen merchant enablement, and contribute to the continued growth of digital commerce across the UAE and the wider region.
