Visa appoints Emirates NBD as National Net Settlement Service Agent in UAE

01/05/2026 03:46 AST

Visa, a world leader in digital payments, has appointed Emirates NBD, a leading banking group in the Middle East, North Africa and Türkiye (MENAT) region, as its official National Net Settlement Service (NNSS) Agent in the UAE.

This move allows Visa's domestic card transactions to be settled by Emirates NBD locally in UAE Dirhams (AED) in lieu of international settlement.

The collaboration enhances the UAE's domestic settlement capabilities and equips Visa clients with greater flexibility to automate and manage their local settlement obligations, Visa said.

A Visa NNSS Settlement Agent (typically a licensed bank or financial institution) facilitates local settlement for participating Visa clients by managing fund transfers for domestic Visa transactions in accordance with Visa's network standards. As Visa's NNSS Agent in the UAE, Emirates NBD will streamline domestic settlements in AED, supporting enhancements to the settlement processes.

To mark the partnership, Salima Gutieva, Visa's VP and Country Manager for the UAE, and Anith Daniel, Group Head of Transaction Banking Services at Emirates NBD, signed the NNSS agreement at Emirates NBD headquarters in Dubai.

Fadi Moukaddem, Visa's SVP and Group Country Manager for UAE, Kuwait, and Qatar, said: "We are committed to expanding the growth of digital payments in the UAE, and are delighted to partner with Emirates NBD to continue facilitating local currency settlements among our clients for Visa domestic transactions. We are confident that Emirates NBD's proven expertise and strong regional standing will enable us to deliver ongoing improvements to our settlement services for our ecosystem partners."

Ahmed Al Qassim, Group Head of Wholesale Banking at Emirates NBD, said: "We are pleased to serve as Visa's NNSS Settlement Agent for settlements in the UAE. This partnership will streamline domestic settlement processes and bolster the nation's digital payments infrastructure, supporting the UAE government's ambitions for a more cashless economy. This appointment reflects Visa's confidence in our financial service capabilities as we continue to strengthen our commitment to supporting issuers, acquirers and partners across the UAE."

How NNSS benefits the UAE payments ecosystem

 Faster local settlement: Domestic Visa transactions clear and settle in AED through a UAE-based NNSS Settlement Agent, helping reduce processing time and payment delays.

 Improved reliability and resiliency: Local processing minimises dependencies on international networks for domestic flows, supporting continuity and stability.

 Cost efficiencies: Reduced international processing can lower certain fees, creating opportunities for more efficient operations.

 Greater flexibility for clients: Visa's clients gain new options to automate and manage domestic settlement obligations in line with local operating needs.

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