Sharjah Islamic Bank Launches “SIB Pay” Integrated Payment Platform to Accelerate Digital Transformation in the UAE Payments Sector

In line with its firm commitment to leading financial innovation and providing Sharia-compliant banking solutions, Sharjah Islamic Bank (SIB) has announced the launch of its new digital platform, SIB Pay, becoming the first bank in the Emirate of Sharjah to introduce this service.

The platform represents a new generation of smart and secure electronic payment solutions designed to support Governmental institutions as well as businesses of all sizes and enhance customer experience across the UAE, reflecting SIB’s leadership in financial innovation and its adoption of the latest banking technologies.

The launch of SIB Pay comes at a time when the payments sector is witnessing a significant shift towards digital solutions, with institutions striving to adopt more secure and flexible technologies that keep pace with the rapid growth of e-commerce and the increasing demand for fast and safe digital transactions.

Empowering Businesses and Supporting the UAE’s Digital Vision

On this occasion, Nabil Abou Alwan, Head of Retail Banking at Sharjah Islamic Bank, said: “The launch of the SIB Pay integrated payment platform marks a new milestone in the digital financial services landscape of the UAE. It reflects our strategic commitment to empowering businesses and simplifying transactions in innovative and secure ways that enhance the competitiveness of the national economy and support the UAE Digital Transformation goals and Vision 2031. This platform has been designed to bridge the gap between merchants and customers, providing safe and user-friendly payment options that reinforce SIB’s position as a leader in Sharia-compliant digital banking services. It reflects our values of trust and reliability, while offering customers modern payment solutions that align with their aspirations and fuel business growth.”

He added: “SIB Pay will revolutionize customer experiences and open new horizons for companies and institutions to adopt smart and efficient payment solutions. Through this platform, we reaffirm our commitment to continued investment in innovation, financial inclusion, and supporting a more flexible and sustainable business environment. This aligns with the UAE’s strategic direction and Sharjah’s vision for growth, while demonstrating our commitment to delivering future-ready solutions that meet our customers’ evolving needs.”

Flexible Payment Acceptance

SIB’s advanced smart payment devices allow merchants to accept payments with high flexibility through touch-screen interfaces and multiple connectivity options. These devices feature instant authorization and fast transaction processing, while accepting major cards, digital wallets, and QR code payments, making them ideal for large retailers, department stores, and franchise chains.

Cutting-Edge Payment Solutions

SIB Pay also offers a range of innovative solutions, including QR code payments with dynamic codes generated for each transaction or static codes for fixed amounts, supporting major e-wallets and banking apps. Its Soft POS solution transforms Android smartphones and tablets into full-fledged payment devices without the need for additional hardware, providing cost-effective, seamless, and secure payment experiences for SMEs, luxury boutiques, kiosks, and delivery services.

For e-commerce, SIB Pay provides a comprehensive online payment gateway, enabling businesses to securely accept payments via websites and mobile apps, backed by the latest international security standards. The Pay by Link feature allows merchants to send instant payment links via email or SMS, facilitating remote transactions and supporting the growing trend of social commerce.

Additionally, the Tokenisation feature enables the encrypted storage of card details, allowing for recurring payments and one-click billing, improving ease of use while boosting customer trust.