Sharjah, The Sharjah Finance Department (SFD) and Mashreq Bank’s NeoPay platform celebrated more than fifteen years of strategic partnership during a joint meeting, marking a collaboration that has delivered a comprehensive ecosystem of digital financial solutions. The partnership has played a pivotal role in supporting Sharjah’s digital transformation journey, enhancing the efficiency of government services, and reinforcing the Government of Sharjah’s position as a leader in adopting advanced financial and banking technologies.

The meeting was attended by HE Sheikh Rashid bin Saqr Al Qasimi, Director of the Sharjah Finance Department, and Huda Al Yasi, Director of the Financial System Department at SFD. It provided an opportunity to review the key joint initiatives and projects implemented throughout the partnership, as well as their contribution to enhancing government payment systems, improving financial operations, and elevating customer experience, in line with the Government of Sharjah’s vision of building a more efficient and sustainable digital financial ecosystem.

A Strategic Partnership Shaping the Future

On this occasion, HE Sheikh Rashid bin Saqr Al Qasimi, Director of the Sharjah Finance Department, said: "This long-standing strategic partnership stands as a successful model of collaboration between the government and banking sectors. Together, we have developed innovative financial solutions that have enhanced the efficiency of government revenue collection and delivered advanced digital services aligned with the Government of Sharjah’s digital transformation ambitions.

"We view this partnership as a model built on innovation, trust, and shared commitment. Together, we have introduced pioneering solutions that anticipated future needs and established best practices in government payment management. We look forward to continuing our collaboration with Mashreq Bank’s NeoPay platform to develop smarter and more agile financial solutions that further enhance government service efficiency, strengthen digital transformation, improve customer experience, and contribute to sustainable development."

Continuous Innovation Drives the Future of Digital Financial Services

For his part, Vibhor Mundhada, Chief Executive Officer of NeoPay, said: "We are proud of our long-standing strategic partnership with the Sharjah Finance Department, which has, for more than fifteen years, served as a leading example of collaboration in advancing digital government payment systems. This partnership has been driven by a shared vision to leverage the latest financial technologies to deliver innovative, secure, and highly efficient payment solutions that support the Government of Sharjah’s digital transformation and government excellence objectives."

He added: "This collaboration has resulted in several landmark initiatives, including the adoption of the latest digital payment technologies, the deployment of advanced payment terminal solutions, and the enhancement of banking settlement and refund mechanisms. These achievements have delivered a seamless and reliable payment experience for government entities and customers alike while achieving exceptional levels of operational efficiency and reliability. At NeoPay, we believe continuous innovation is the key driver of the future of digital financial services, and we look forward to strengthening our collaboration with the Sharjah Finance Department to develop smarter and more flexible solutions that further enhance government service efficiency and reinforce Sharjah’s position as a regional leader in financial digital transformation and payment innovation."

Landmark Achievements Strengthening the Digital Payments Ecosystem

During the meeting, both parties reviewed several milestone achievements resulting from the partnership. Among the most notable was the Sharjah Finance Department’s leadership in adopting the three major global digital wallets, the early deployment of mobile point-of-sale (mPOS) solutions since 2017, and the provision of the lowest banking transaction fees for government services, reflecting the success of the ongoing collaboration in delivering innovative financial solutions for government entities and customers.

The two organisations also developed an integrated banking refund system covering transactions across multiple payment channels, implemented automatic updates for banking terminal systems, and introduced a dedicated banking settlement mechanism tailored to the Government of Sharjah’s requirements, independent of the conventional Visa and Mastercard settlement schedules. These initiatives have significantly enhanced the speed and efficiency of financial operations.

The partnership has further delivered advanced solutions in digital collections, banking terminal upgrades, governance and risk management, and the development of a secure and flexible digital financial infrastructure that enables government entities to provide more efficient and seamless services, in line with the Government of Sharjah’s digital transformation and innovation agenda.

Results That Reflect the Partnership’s Impact

The results presented during the meeting demonstrated the significant impact of the partnership. More than 52 million transactions have been processed through point-of-sale (POS) terminals, while over 10 million transactions have been completed through global digital wallets, achieving a transaction success rate exceeding 99%, underscoring the reliability and efficiency of Sharjah’s digital financial ecosystem.

The meeting concluded with both parties reaffirming their commitment to advancing joint initiatives and exploring new opportunities for innovation in digital financial services, further strengthening the Government of Sharjah’s future readiness, enhancing the efficiency of government payment systems, improving customer services, and reinforcing Sharjah’s position as a regional leader in financial digital transformation.