Latest news with #NaderAntar
Khaleej Times
30-06-2025
- Business
- Khaleej Times
Cash remains a major factor in UAE payments sector
Digital payments in the UAE increased by over 30 per cent in 2024, driven by the widespread use of e-wallets and contactless payments, according to the UAE Central Bank. However, cash remains widely used in sectors such as retail, hospitality, and transportation, where daily cash transactions are commonplace. Brink's, a leading global provider of cash and valuables management, digital retail solutions, and ATM managed services, has agreed a strategic joint venture (JV) with Meedaf, the ADGM-licensed entity launched in April 2025 to serve financial institutions across the GCC. As the first strategic partnership in the Middle East & North Africa (MENA) region on the Meedaf platform, the new joint venture with Brink's will empower financial institutions' innovation potential by harnessing Brink's global technology, infrastructure, and operational expertise to establish elevated standards in cash management and ATM managed services throughout the UAE and beyond 'Brink's solutions have evolved from traditional cash handling to include secure logistics and financial support. Our smart safes and automated deposit systems allow businesses to automate cash collection and reconciliation, lowering manual errors and operational risks. Real-time data and analytics improve routing and scheduling for cash-in-transit (CIT), enhancing efficiency and security,' said Nader Antar, EVP and President, Brink's IMEA and APAC and Brink's Global Services. As the first strategic partnership in the Middle East & North Africa (MENA) region on the Meedaf platform, this collaboration will empower financial institutions' innovation potential by harnessing Brink's global technology, infrastructure, and operational expertise to establish elevated standards in cash management and ATM managed services throughout the UAE and beyond,' he added. A key gap in the UAE market is the integration of physical cash management with digital financial infrastructure, especially for businesses operating in hybrid cash and digital environments. Many SMEs and retailers still handle large cash volumes while moving toward digital payments. 'We are introducing smart retail cash management technologies, including smart safes, recyclers, and real-time deposit systems. These tools help automate cash reconciliation, reduce in-store cash exposure, and provide same day credit, reducing risk and improving cash flow,' Antar said. The UAE cash market is evolving alongside the digital landscape. Government initiatives, fintech innovation, and changing consumer behaviour are accelerating the move toward digital payments, yet cash continues to play an essential role across various sectors, . 'While the share of cash usage is not as high as it used to be, it remains preferred for small transactions, remittances, and daily wages, particularly among the UAE's large expatriate workforce, which makes up nearly 60 percent of the population. Industries such as retail, hospitality, transportation, and construction continue to rely on cash, and SMEs operate in hybrid models, accepting both digital and cash payments to remain inclusive. Security and efficiency remain top priorities for these businesses. Smart cash management solutions like safes, recyclers, and deposit systems that connect directly to digital accounts are seeing increased adoption,' Antar said. Future frameworks are likely to focus on ensuring both digital and cash-based systems are secure, interoperable, and efficient. In short, the volume of cash in circulation may shrink, but the complexity of managing it is growing. The future lies in smarter, secure cash handling that is digitally integrated and customized for cash intensive sectors. 'Companies that effectively integrate physical and digital solutions, as Brink's is doing, will remain central to the UAE's evolving financial landscape,' Antar said.
Web Release
09-06-2025
- Business
- Web Release
Meedaf and Brink's Form Strategic Alliance to Revolutionize Cash and ATM Operations in the UAE
Meedaf, an ADGM-licensed entity launched in April 2025 to serve financial institutions across the GCC, proudly announces a strategic joint venture with Brink's a leading global provider of cash and valuables management, digital retail solutions, and ATM managed services. This collaboration is set to revolutionize the cash management and ATM managed services industry in the UAE, ushering in a new era of efficiency, security, and innovation. As the first strategic partnership on the Meedaf platform, the new venture will empower financial institutions by harnessing Brink's global technology, infrastructure, and operational expertise to establish elevated standards in cash management and ATM managed services throughout the UAE. This collaboration will deliver fully integrated solutions encompassing cash-in-transit, money processing, ATM managed services, and digital retail solutions, including deposit machines, cash recyclers, and kiosks. Through the integration of advanced technologies, it aims to enhance operational efficiency and reduce costs across the cash ecosystem. Brink's brings decades of global experience in managing complex, high-volume operations, coupled with proprietary systems that optimize route planning, crew deployment, and cash centre performance. These advanced capabilities are now seamlessly integrated into Meedaf's offerings, enabling financial institutions to reduce complexity, enhance consistency, and streamline their day-to-day operations. Meedaf's unparalleled regional experience will enable the joint venture to include cutting-edge technologies and advanced capabilities to ensure smarter, more secure operations and control across the entire cash ecosystem. Eng. Abdulla Abdul Aziz AlShamsi, Managing Director and CEO at Meedaf, commented: 'Our joint venture with Brink's underscores Meedaf's unwavering commitment to revolutionizing financial services through cutting-edge innovation and strategic alliances. By harnessing Brink's unparalleled global expertise in cash management, we are poised to deliver exceptional operational efficiency and security to financial institutions across our region. This collaboration represents a pivotal stride towards realizing our vision of a more agile and resilient financial ecosystem, setting new benchmarks for excellence and transforming the landscape of financial services in the UAE. Nader Antar, EVP and President, Brink's IMEA and APAC and Brink's Global Services, said: 'We are excited by the opportunity to collaborate with Meedaf to create a truly transformative service model. By providing a competitive value proposition, superior services and solutions that bridge physical and digital commerce, we will set a new standard in the UAE market for cash management, digital retail solutions and ATM management services.' Following its launch in the UAE, this strategic joint venture is set to transform the industry, driving operational transformation that combines innovative solutions with industry-leading standards across the region. It also marks a major step forward in Meedaf's expansion into key regional markets.
