- The new headquarters oversees operations in nearly 90 countries across Central & Eastern Europe, the Middle East and Africa (CEMEA)
- Visa’s expansion has been aided by Dubai’s advanced infrastructure, a competitive business environment and best-in-class technology talent
- Company’s new regional base in Dubai Internet City currently employs approximately 500 people, with the capacity to accommodate up to 750 in the future
- The new headquarters includes a digital payments innovation centre that supports Dubai's efforts to enhance exports of technical solutions
- Over the past two decades, Dubai Internet City has enabled leading global companies to grow and contribute to economic development and digital transformation across the region
His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, today visited the new regional headquarters of Visa, a global leader in digital payments.
Dubai Internet City, a member of TECOM Group, is home to Visa’s brand-new headquarters, which manages operations in 90 countries across the Central and Eastern Europe, Middle East and Africa (CEMEA) region.
His Highness was accompanied on the visit by His Excellency Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications; His Excellency Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs; His Excellency Helal Saeed Al Marri, Director General of Dubai’s Department of Economy and Tourism; His Excellency Ahmad Abdullah bin Byat, Vice Chairman of the Board of Dubai Chamber of Digital Economy; and His Excellency Malek Al Malek, Director General of the Dubai Development Authority and Group CEO of TECOM Group.
Visa’s new address currently employs approximately 500 people – with the capacity to accommodate up to 750 in the future – all working closely with consumers and partners in the region to develop and deliver digital trading solutions and payment experiences, enabling new segments of users to enter the world of digital payments.
His Excellency Malek Al Malek said,
“The vision and continuous guidance of the UAE leadership, has helped build a world-class business environment that competes on a global level. Dubai’s integrated business ecosystem has attracted the world's largest companies, whose innovations have contributed to economic growth not only in our emirate, but also across the wider region while promoting digital transformation at every level of the economy.
“Fintech and digital payments are among the most prominent sectors that have witnessed substantial growth regionally out of Dubai, and Visa's evolution in the emirate is a testament to the important opportunities in the technology sector. We look forward to working closely with Visa to consolidate its presence, further enable partnerships, and help them attract more world-class talent.”
Andrew Torre, Visa’s Regional President for the CEMEA region, briefed HH Sheikh Hamdan bin Mohammed on the latest developments in payments, and Visa’s work to advance digital commerce in the UAE and wider region.
“The new Visa headquarters is an important milestone for our presence across the CEMEA region in advancing the digital economy, developing innovative commerce solutions and it reflects our vision for the workplace of the future, where employees, clients, and partners can seamlessly collaborate,”
“We are honoured to have hosted His Highness Sheikh Hamdan bin Mohammed and grateful for the opportunity to reaffirm our commitment to supporting the government’s ambitions to make Dubai and the UAE the most advanced, seamless and smartest digital economy for both residents and tourists from around the world.”
said Andrew Torre, Visa’s regional president for the CEMEA region.
The fintech and digital payments sectors have witnessed accelerated growth during the pandemic, becoming an essential component empowering and advancing diverse sectors. Dubai Internet City – as the first and largest hub for companies and talent in the fields of technology in the region – has contributed to the growth and expansion of the financial technology sector, attracting major international companies in the field while also providing promising start-ups in the sector with an ideal environment to grow.
One of the highlights of the new Visa headquarters is the 10,000 sq. ft. Innovation Centre, where start-ups and Visa partners can develop and experiment with cutting-edge technologies such as the blockchain, VR, AI and biometrics to build innovative payment mechanisms.
One of five such global facilities, the Innovation Centre supports Visa's commitment to co-shaping the future of commerce with partners and employees through flexible and design thinking methodologies.
The Innovation Centre includes immersive experience zones that allow in-situ prototyping, such as a connected home, rapid transit, connected car, crypto zone, retail concept, airline lounge and a small merchant bazaar.
It also features cutting-edge technologies such as a hypermatrix wall, as well as purpose-built briefing centres and collaboration zones. The new space also houses CEMEA’s first Visa University campus, which will host training and educational programs for Visa employees, clients and partners.
Dubai Internet City
Dubai Internet City is the region’s largest technology hub. For over two decades, its ecosystem has attracted and embraced technology giants, unicorns (start-ups with a valuation of more than $1 billion), entrepreneurs and freelance talent (such as developers and consultants), consolidating the emirate's position as the leading destination for talent and companies working on future solutions. The ecosystem strives to provide a stimulating business environment that encourages knowledge sharing between its diverse community and facilitates innovative partnerships.
Driving Technology Exports
Dubai Internet City is home to 12 Innovation Centres, including the one powered by Visa, to develop specialised technological solutions for the region, while enhancing global innovations to better meet the needs of local governments and businesses. The technologies developed in these centres have played a significant role in enabling digital transformation across countries in Africa, the Indian subcontinent, select Eastern European countries and more.
News Source: Dubai Media Office