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Dubai Economy launches partnership to expedite emCash

MoU seeks to facilitate financial transactions through contactless payments

Gulf News

Dubai: Dubai Economy said its has achieved a milestone in its accelerators initiative by establishing a partnership to facilitate financial transactions through contactless payments.

The partnership brings Emcredit, a subsidiary of Dubai Economy, and the UK-based Object Tech together under the Dubai Economy Accelerators umbrella to develop and implement emCash, an encrypted digital currency, which people can use to pay for various government and non-government services, Dubai Economy said in a statement.

EmCash will be the digital currency in emPay wallet, launched by Emcredit to support contactless payments.

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