V5 International recently announced that it is expanding into the UAE via Dubai as V5 Payment Services Provider LLC. V5 has obtained the license issued by Dubai Economy & Tourism to operate as a Payment Service Provider (PSP) (Licence No: 1125433) within the region. The expansion continues V5 International’s commitment to increase digitalization and financial inclusion.
The expansion into the UAE market will serve to empower small and medium enterprises (SMEs) and microbusinesses across the region, with best-in-class digital payments solutions that drive growth in the growing digital economy. The UAE is a versatile ecosystem that cultivates an entrepreneurship spirit. There are currently over 350,000 businesses in the UAE, 38% of which are SMEs and 61% are microbusinesses. Presenting a huge potential for growth in this market and V5 aims to facilitate these merchants with the latest payment technologies to accelerate their growth.
V5 International has a wide international clientele network across the globe. The company is committed to accelerate high-growth business via providing seamless and secure payment solutions for expansion needs in new markets.
This expansion means that V5 International can now legally involve itself in payment activities in UAE. V5 will continue to expand its network of financial partners, deepen relationships with partners with comprehensive financial solutions, continue to invest in technology infrastructure, develop and provide more innovative solutions, and expand into new regions.
About V5 Payment Services Provider LLC
V5 Payment Services Provider LLC is a limited liability company registered with Dubai Economy & Tourism as a Payment Service Provider (PSP). In line with the government’s drive to promote growth and development in digital payments, V5 aims to provide a secure and affordable digital payment platform and related solutions to merchants across UAE.
About V5 International
V5 International is a financial technology company incorporated in Singapore (Reg. No 201607100N)). She also has existing operations in Philippines, India and technology centres in China (namely Shenzhen, Chengdu). In pipelines, Thailand, Indonesia, Cambodia, Laos. V5’s solutions serve as a bridge to connect business ecosystems and financial institutions. For business partners, the solutions help enhance their financial services, build and operate diversified financial products to better serve end-users, leading to an improvement in traffic volume conversion and product sales.
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