Visa has appointed Emirates NBD (National Bank of Dubai) as its National Net Settlement Service (NNSS) agent in the United Arab Emirates, which will facilitate faster local payment processing for Visa debit and credit card transactions. This means that domestic Visa transactions will now be settled in UAE Dirhams (AED) rather than going through international channels. As a result, residents and citizens can expect quicker online and offline payments at grocery stores, malls, and restaurants without any changes needed on their part. The new system offers several benefits, including faster local settlement, improved reliability, cost efficiencies, and greater flexibility for clients. Fadi Moukaddem, Visa’s Senior Vice President and Group Country Manager for UAE, Kuwait, and Qatar, emphasized the commitment to enhancing digital payments in the UAE. Ahmed Al Qassim, Group Head of Wholesale Banking at Emirates NBD, expressed enthusiasm about supporting the UAE's digital payments infrastructure and the government's ambitions for a cashless economy. Although immediate fee reductions are not guaranteed, settling transactions in AED could help limit increases in banking charges over time.