Photo Credit: WAM
Dubai, UAE — July 2026 — The Central Finance Department in Sharjah has hailed its long-running strategic partnership with Mashreq Bank’s digital payments platform NeoPay as a model for successful cooperation between the government and banking sectors, as the two sides celebrated more than 15 years of collaboration.
Director of the Central Finance Department in Sharjah, Sheikh Rashid bin Saqr Al Qasimi, said the partnership had driven the development of innovative financial solutions that strengthened the efficiency of the government’s collection system and delivered advanced digital services in line with the Sharjah government’s digital transformation goals.
“We view this partnership as a model of cooperation built on innovation, trust and joint effort,” Sheikh Rashid said. “Together, we have succeeded in developing distinctive solutions that anticipated future requirements and established best practices in government payment management.”
He added that the department would continue working with Mashreq Bank and NeoPay to develop smarter, more flexible financial solutions to enhance government services, support digital transformation, and improve the customer experience as part of the emirate’s sustainable development goals.
Figures presented by both sides at the anniversary event underscored the scale of the partnership’s impact. More than 52 million transactions have been carried out through point-of-sale devices under the collaboration, while transactions processed through global digital wallets have surpassed 10 million.
The system has maintained a success rate of more than 99 percent, a figure officials said reflects the reliability and efficiency of the digital financial infrastructure.
Chief Executive Officer of NeoPay, Vibhor Mahendra, described the partnership as a pioneering model for cooperation in developing government digital payment systems.
“Our partnership with the Central Finance Department in Sharjah has been built on a shared vision to harness the latest financial technologies to deliver innovative, secure and highly efficient payment solutions, supporting the Sharjah government’s digital transformation and government excellence agenda,” he said.
Mahendra noted that the cooperation had enabled the rollout of several key initiatives, including the adoption of the latest digital payment technologies, the development of advanced payment device solutions, and the strengthening of bank settlement and refund systems, all of which, he said, delivered a seamless and reliable payment experience for government entities and customers while achieving exceptional levels of operational efficiency and reliability.
Among the milestones highlighted during the review of the partnership’s achievements was the Central Finance Department’s early adoption of all three major global digital wallets, as well as its rollout of mobile point-of-sale payment technology since 2017.
Officials also pointed to the department’s success in securing among the lowest banking fee rates for government transactions, which they described as a reflection of the sustained success of the two sides’ cooperation in delivering innovative financial solutions to government entities and the public.
