The Emirates Payment Services has launched Empay, which it describes as the ‘world’s first contactless instant credit lifestyle payment ecosystem’, according to media reports. Developed under the UAE’s Smart Government framework, it will allow residents of UAE to make in-app and in-store NFC and QR code-enabled contactless payments, international remittances as well as utility bill payments.
Muna Al Qassab, chief executive officer at The Emirates Payment Services told the media, “We are delighted to launch Empay and join the movement to accelerate the delivery of digital services in the region. Empay unlocks an amazing future of cashless transactions serving as an innovative platform for all in this rapidly changing digital payment market.”
“Empay aims to become the ultimate payment solution for all residents of the UAE. With this project, we put customer experience and satisfaction as our topmost priority. Owing to changing lifestyles, daily commerce, and rapid growth in online retailing, this trend is expected to continue during the forecast period in the region.
She added, “The objective of the application is to offer a single platform for residents to make their day-to-day payments without the need of having multiple apps on their mobile phones for different payment requirements. Empay brings a seamless user experience that no other solution provider offers in the region. We understand this model of payment solution is not only the need of the hour but will lead the way for all things digital in the times to come.”
Recently, the Central Bank of the UAE announced the launch of the CBUAE Fintech Office during Fintech Abu Dhabi 2020, MENA’s largest Fintech Festival which is co-hosted by the central bank along with Abu Dhabi Global Market.