Emcredit, a subsidiary of Dubai Economy, the government agency, is set to launch empay, a mobile payment service aimed at enabling customers to conduct their financial and non-financial transactions in secure way, the company said in a statement on Thursday.
Developed within the framework of the Dubai Smart Government initiative, Emcredit has partnered with Noor Bank to build the payment service.
The government agency has mapped the common lifestyles and habits of people in the UAE, according to the statement, enabling them to experience reliable and convenient cashless transactions.
Unveiled during a special event at Dubai World Trade Centre, the launch was attended by Ali Ibrahim, Deputy Director-General of Dubai Economy and Managing Director of Emcredit Limited, Ali Moosa, Head of Distribution at Noor Bank, and other senior government officials, key private sector figures and representatives of financial and technology institutions.
At the event, Emcredit and Noor Bank signed a Memorandum of Understanding for the latter to use empay mobile payment solution.
Ibrahim said in a statement: “empay will set a benchmark in the region for mobile payment solutions. As an initiative of the Dubai Economy, it merges two key elements of the vision of Vice-President, Prime Minister and Ruler of Dubai, His Highness, Shaikh Mohammad Bin Rashid Al Maktoum — that of making Dubai a Smart and a Happy City, a fact is amply reflected in the logo of empay.”
Hussain Al Qemzi, Managing Director of Noor Bank added in a statement: “We are delighted and privileged to partner with Emcredit to offer UAE’s customers ‘empay’, a cutting-edge mobile payment solution that’s seamless, easy to use and most importantly, secure.”