The move is expected to strengthen the UAE’s digital payments infrastructure by allowing banks and financial institutions to clear and settle domestic Visa transactions within the country. For consumers and businesses, this could translate into faster transaction processing and potentially lower costs tied to cross-border settlement.
Under the NNSS framework, a designated settlement agent—typically a licensed bank—facilitates fund transfers between participating institutions for domestic transactions in line with Visa’s network standards.
With Emirates NBD taking on this role, local settlement flows will be handled in dirhams, reducing reliance on international settlement systems.
Experts from both companies said the partnership aligns with broader efforts to deepen digital payment adoption and improve efficiency in the financial system.
The agreement was formalised at Emirates NBD’s headquarters in Dubai.
From a personal finance perspective, local currency settlement can have indirect benefits for users. Faster clearing cycles may improve transaction visibility and reduce delays in refunds or merchant settlements.
Lower processing costs at the system level could also support more competitive fees over time, although end-user pricing depends on banks and payment providers.
The collaboration is also expected to enhance system resilience by limiting dependence on global networks for domestic transactions. This becomes particularly relevant during periods of global market disruption, when localised processing can help maintain continuity.
Additionally, the NNSS framework gives financial institutions flexibility to automate and manage settlement obligations based on local requirements, potentially improving operational efficiency for banks and payment firms operating in the UAE.
