Smart payment solutions have entered UAE and they are here to
stay, creating a rise in digital payments.
The UBF (The UAE Banks Federation), a professional
representative body comprising 49 member banks operating in the
UAE, has announced that the long awaited Emirates Digital Wallet
LLC, previously known as the Mobile Wallet project, a company owned
by 16 shareholding banks and fully sponsored by The UBF, has
reached its final development stage. This is a big step forward in
the country's transition to a digital future and re-defining
the lifestyle of UAE consumers and businesses while providing an
effective and convenient way to receive, store and transfer
money.
This change is much needed to attract and retain "digital
natives" a whole generation born and raised in the digital
world, which depends on this platform for all their needs, be it
entertainment, finances or everyday services like taxis, bill
payments, insurance selection etc.
