The partnership will see the combination of FSS’ Unified Card Issuance Platform with particular emphasis on virtual card issuance and support around 3D Secure adoption. YAP services would initially be available in the UAE and would soon be rolled in other Gulf Council Cooperation (GCC) markets and Ghana.

FSS Unified Issuance Platform enables YAP to provision instant, open loop virtual cards linked to its wallet app, with unique security features such as a unique card number, a unique CVV, and an expiration date for utility payments and online shopping. To build customer trust, the platform supports 3D Secure to safeguard customers against transaction fraud.

The solution additionally supports programmable spend controls providing cardholders the flexibility to turn cards on and off as well as the ability to set card usage limits for specific time frames, amounts, and approved merchant categories as needed. Further, to protect customer funds, all transactions are authenticated using EMV 3D Secure 2.2.

The number of consumer digital transactions in the UAE are growing at an annual rate of more than 9% t between 2014 and 2019, compared with Europe’s average annual growth of 4% to 5%, according to McKinsey.