SHARJAH, 9th July, 2026 (WAM) -- Sheikh Rashid bin Saqr Al Qasimi, Director of the Sharjah Finance Department (SFD), affirmed that the strategic partnership with Mashreq Bank's NeoPay platform represents a successful model of integration between the government and banking sectors, having contributed to the development of innovative financial solutions that enhanced the efficiency of the government's revenue collection system and delivered advanced digital services aligned with the Government of Sharjah's digital transformation objectives.
Marking more than 15 years of the strategic partnership between the two sides, Sheikh Rashid said, "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."
The results reviewed by both parties on the occasion highlighted the partnership's impact, with more than 52 million transactions processed through point-of-sale (POS) terminals and over 10 million transactions completed through global digital wallets, while achieving a transaction success rate exceeding 99 percent, reflecting the reliability and efficiency of the digital financial ecosystem.
For his part, Vibhor Mundhada, Chief Executive Officer of NeoPay, said the company's partnership with the Sharjah Finance Department has served as a pioneering model for cooperation in developing digital government payment systems. He noted that it has been built on 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, most notably the adoption of the latest digital payment technologies, the deployment of advanced payment terminal solutions, and the enhancement of banking settlement and refund mechanisms, delivering a seamless and reliable payment experience for government entities and customers while achieving exceptional levels of operational efficiency and reliability."
The two sides also reviewed several milestone achievements made possible by the partnership, including 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 continued collaboration in delivering innovative financial solutions for government entities and customers.