Turkish payment solutions provider Cardtek has collaborated with Emcredit, a subsidiary of the Dubai Economic Department, to introduce first national mobile wallet solution emPAY in the UAE.
emPAY aims to bring together commercial banks, government departments, exchange houses, retailers, educational institutions, and transportation companies, into a common platform where consumers can easily make payment for various services from a single platform.
The partnership will enable consumers to make retail payments (in-store and remote payment), initiate money transfers, pay for government utilities, telecommunication, and school fees, from a single payment solution.
Under the partnership, Cardtek will provide Emcredit the payment infrastructure, along with operational services and product enhancements to support future needs. The solution also uses NFC technology to allow consumers make payment through the wearables.
Cardtek CEO Ayse Nil Sarigollu said: "We have great confidence that this partnership will ease UAE's citizens' life in terms of payments and bring new opportunities and benefits to the UAE's economic development.
"We have had resounding success in the international arena with numerous accomplishments with clients in four continents through proactively following the changes in the Fintech sector. Utilizing our industry foresight, we continue to offer a dynamic competitive edge to our customers and partners."
Emcredit CEO Muna Al Qassab said: "This collaboration to launch this unique initiative of DED will simplify the life of consumers and merchants alike, creating a better, safer, and faster payment eco-system for all.
“With emPay, our goal is, and will always be to push the boundaries of innovation to give the people of UAE smarter yet simpler ways to conduct financial and non-financial transactions. emPay is poised to change the very way we transact, offering speed and security like never before."