Sharjah Central Finance Department Executes 62 Million Digital Transactions via ”NEOPAY” Partnership
The Central Finance Department in the Emirate of Sharjah has confirmed that its strategic partnership with "NEOPAY", the digital payments arm of Mashreq Bank, has established an advanced ecosystem for digital government payments. The platform successfully processed over 52 million Point of Sale (POS) transactions and more than 10 million transactions via global digital wallets, achieving a success rate exceeding 99%—a strong indicator of the efficiency and reliability of the emirate's digital financial infrastructure.
Sheikh Rashid bin Saqr Al Qasimi, Director of the Sharjah Central Finance Department, stated that the partnership, which spans over 15 years, serves as a successful blueprint for integration between the government and banking sectors. He noted that the collaboration has driven the development of innovative financial solutions that enhance the efficiency of the government collection system and provide advanced digital payment services aligned with Sharjah Government's digital transformation goals.
He added that the cooperation between both entities is anchored in innovation, trust, and joint efforts, enabling the development of forward-thinking solutions that adopt best practices in government payment management. Sheikh Rashid emphasized the ongoing commitment to launching smarter and more agile financial solutions to improve the customer experience and boost the efficiency of government services.
Data reviewed by both parties to mark the 15-year milestone revealed the completion of over 52 million POS transactions and more than 10 million global digital wallet operations, maintaining a success rate of over 99%, which highlights the high reliability of Sharjah's digital payment ecosystem.
Cutting-Edge Fintech Technologies
Vibhor Mundhada, CEO of NEOPAY, stated that the partnership with the Sharjah Central Finance Department stands as a pioneering model for developing digital government payments by utilizing the latest financial technology to offer highly secure and efficient payment solutions that support the emirate’s push toward digital transformation and government excellence.
He explained that the collaboration has yielded several qualitative initiatives, including upgrading payment terminal solutions and advancing banking settlement and refund systems. These milestones have ensured a seamless and secure payment experience for both government entities and customers, ultimately elevating operational efficiency.
The partnership has recorded numerous milestones, most notably the Sharjah Central Finance Department's leadership in integrating the top three global digital wallets and pioneering the adoption of Mobile Point of Sale (MPOS) solutions since 2017. Furthermore, the collaboration has secured the lowest banking fees for government payment transactions, underscoring the success of providing innovative digital financial solutions that fuel the emirate's digital transformation journey.