Sending money in the UAE just got easier. Ziina, led by Faisal Toukan, lets users pay using only a phone number. No need for IBAN or Swift codes. That simple idea has grown into a digital wallet trusted by both individuals and small businesses for splitting bills, collecting payments, and soon, expense management and cards.

Founded in 2020 by Faisal Toukan, his sister Sarah Toukan and Andrew Gold, Ziina introduced peer-to-peer transfers in 2021. By early 2022 the company launched a licensed wallet. Now it serves both consumers and small businesses, covering around 60 percent of the UAE’s SME ecosystem.

Fast Transfers Without Complexity

Ziina enables instant transfers between wallets. Cash-outs to banks arrive within hours or up to two days. That compares favorably to other apps that can delay payouts for almost a week. Users appreciate the ease and speed. The app also uses biometric verification and is backed by a Stored Value Facility license from the UAE Central Bank.

Expanding Into Business Services

What began as a Venmo-style app with emojis and GIFs soon drew business interest. Ziina added payment links, QR codes, online gateway tools and branded payment desks. It also supports NFC-enabled cards for in-person sales. Merchants benefit from straightforward setup and transparent pricing—2.6 percent plus 1 AED per transaction without hidden costs.

Market Response and Growth

Ziina raised US$22 million in Series A funding led by Altos Ventures and others. The money supports a new business debit card, ZiiCard, and expansion into Saudi Arabia and Jordan. The wallet license also lets the company hold balances and build on its services beyond basic transfers.

Users report that Ziina is a lifesaver, especially for micro-merchants or those blocked by traditional licensing. Feedback is strong overall, with praise for the wallet’s speed, while occasional delays and support issues are noted. How the platform responds as volumes rise will be key.

Tech That Works for People

Signing up takes minutes with an Emirates ID or phone number. The app supports Apple Pay, Google Pay, Visa, Mastercard, AMEX and multi-currency wallets. Business users get dashboards, analytics, simple CRM and multi-user access. A first 5,000 AED of transactions per month is fee free to help smaller firms join.

Blending Social and Business Needs

Toukan says business use came naturally from personal use. Over half of merchant accounts join without sales outreach. Social features and business tools make a strong combo.

 “Trust is earned in drops and lost in buckets,” he says, highlighting regulation’s role in credibility.

Next Steps Without Rush

Ziina plans to launch ZiiCard to help firms manage expenses and supplier payments. They’ll also add tools for payroll, bill pay and remittances. Expansion into Saudi Arabia and Jordan is planned—but only when demand makes sense.

Meeting Challenges Ahead

Speed matters in payments. Trust and support matter more. Users report occasional delays and slow replies. As the user base grows, maintaining performance will be critical.

Fintech competition is fierce. Many startups offer features but lack proper licensing. Ziina aims to stay ahead by combining regulated services with real usability.

The Final Word

Ziina brought useful simplicity to UAE payments. It began as a social wallet and is now transitioning into a business-ready platform with real financial traction. Its Series A funding and regulatory approval are proof points.

For businesses tired of slow setups and hidden fees, Ziina offers a refreshingly agile option. For consumers, it delivers fast, friendly transfers with social flair.

The expansion into cards, outbound payments and new markets will show whether Ziina can keep its edge while scaling. For now, it is winning trust one timely payment at a time.

Faisal Toukan, Co-Founder & CEO, Ziina