UAE launches contactless mobile payment app for residents

Emirates Payment Services, a great initiative of Dubai Market, introduced a fresh mobile payment program called Empay for UAE people since it looks to facilitate cashless transactions.

It is the region's “primary national contactless mobile repayment app” and the world’s “first contactless prompt credit” provider, the company said on Sunday.

Empay won't require any paperwork and allocation of money depends on users’ credit score.

“This new solution will contribute towards [the] acceleration of the nation’s ongoing transformation in to the most advanced and linked digital marketplace on the globe," Ali Ibrahim, deputy director general of Dubai Economy, and chairman and taking care of director of Empay, said.

Empay is currently designed for only UAE people but it will be rolled out found in other markets over the region, Mr Ibrahim said.

People may download the application from the Google Take up Store or perhaps the iOS App Store and register. They are able to add their existing credit or debit card facts or also get yourself a Mastercard digital cards that is included with the app. Users can sign up using their mobile amount and email address.

"We happen to be delighted to release Empay and join the activity to accelerate the delivery of digital providers in your community,” stated Muna Al Qassab, chief executive of Empay.

The app aims to be the best payment solution for all residents of the UAE, she added.

“The objective of the application form is to give a single platform for residents to make their day-to-day payments with no need of having multiple software on their cell phones for different payment requirements,” said Ms Qassab.

Using Empay, customers pays for government and individual sector services, incorporating licence renewals by the Dubai Economic Division, all sorts of bill payments, food ordering, school fee obligations, international remittances and peer-to peer micro payments.

Digital payments are actually booming as users increasingly shun cash in favour of online and contactless payments through the Covid-19 pandemic.

Globally, digital payments are set to grow to $8.26 trillion in 2024, from $4.4tn this season, according to Statista.

The UAE is top rated the adoption of digital payments in your community.

A McKinsey survey of UAE consumers as well found they are 10 % more likely to use a credit card or an electronic wallet, with 20 % stating they are less inclined to use cash when making a payment.

Two-thirds of UAE residents expect the country to become fully cashless by 2030, a good poll conducted by Standard Chartered earlier this season showed. A McKinsey survey of UAE consumers also found they are 10 % more likely to employ a credit card or an electronic wallet, with 20 % stating they will be less inclined to use cash when coming up with a payment.

“The release of Empay comes within the framework of the Dubai Economic Department’s strategy by supporting the transition to a digital economy for all business sectors … especially in growing financial transactions through contactless payments that enhances productivity, reduces costs and saves time,” said Mr Ibrahim.