Dubai Economy launches partnership to expedite emCash

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.