Lulu ties with Adwea arm for bill payments
Exchange provides services such as remittances, bank transfers and credit card payments
Abu Dhabi Residents in Abu Dhabi can now pay their water and electricity bills at any Lulu International Exchange branch, the money exchange service provider.
It is the latest addition to the company's financial services after an agreement signed with the Abu Dhabi Distribution Company (ADDC), an agency of the Abu Dhabi Water and Electricity Authority (Adwea).
Lulu International Exchange, the latest venture by LuLu Group International, operates 14 branches in the UAE, providing a variety of financial services such as remittances, bank transfers, credit card payments, and others.
Adeeb Ahamed, CEO of Lulu International Exchange, said that the new free service increases the ADDC's collection points and makes sure people pay their bills on time.
"We were looking at what the value added services are that would help our customers and the one we came up with was the water and electricity bill payments," he said.
"Such hassle-free services will help us to reduce queue time at ADDC's customer services centres considerably," said Mohammad Bin Jarsh, ADDC deputy managing director.
This isn't the first time Lulu has joined hands with a government entity. In 2011 the exchange company launched a new service that allows resident to pay Mawaqif and Salik tickets. Besides these value added services, for a business like Lulu International Exchange it's the remittance service that brings in the cash.
"For exchange companies like ours, remittances are the core substance of our work," Ahamed said.
