Dubai: H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance, today met with Alex Chriss, President and CEO of PayPal. The meeting took place at Sheikh Maktoum’s office in Nad Al Sheba, Dubai, focusing on enhancing cooperation in digital payment systems and bolstering e-commerce growth.
According to Emirates News Agency, Sheikh Maktoum emphasized the UAE’s ambition to become a hub for the global financial industry by embracing innovation and long-term competitiveness. The discussions centered on enabling SMEs and enhancing cross-border financial connectivity, aligning with the UAE’s status as a global economic and trading center. The growth of PayPal’s operations in Dubai Internet City underscores the emirate’s appeal as a high-growth platform for global financial entities.
Sheikh Maktoum highlighted that partnerships with innovation-driven companies like PayPal are crucial for advancing the Dubai Economic Agenda D33, which aims to double the emirate’s GDP and position it among the top four financial hubs worldwide by 2033. Dubai’s infrastructure and supportive regulatory framework offer global companies access to high-growth markets.
PayPal, founded in 1998, serves 434 million active consumer and merchant accounts in over 200 markets. By the end of 2024, the company had processed $1.68 trillion in total payment volume through 26 billion transactions, generating $31.8 billion in net revenue. In April 2025, PayPal established its regional headquarters for the Middle East and Africa in Dubai Internet City, marking a pivotal step in its global strategy.
The meeting was attended by key officials, including Helal Saeed Almarri, Director-General of the Dubai Department of Economy and Tourism; Hamad Obaid Al Mansoori, Director-General of Digital Dubai; Malek Al Malek, Director-General of the Dubai Development Authority and CEO of TECOM Group; and Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers.