UAE-based Islamic lender Noor Bank has joined forces with UB QFPay, a joint venture between United Brands (UBPAY) and QFPay, to introduce a new mobile payment solution.
The new solution will allow tourists and overseas visitors to make payments at UAE-based retail outlets through their preferred mobile wallets from other markets.
All transaction settlements for the solution will be managed by Noor Bank. The bank claims that the new solution is the first of its kind in the region.
Noor Bank CEO John Iossifidis said: “As an innovative and ground-breaking service, the solution will allow overseas visitors to use international mobile wallets for the purchase of goods and services in UAE, for the first time.”
UB QFPay managing director Ahmed Alrafi added: “Chinese tourists are a huge segment for retailers in the UAE, who have focused on attracting more Chinese shoppers to their stores and UB QFPay makes them ‘China Ready’ by allowing Chinese tourists to pay with their preferred mode of payment.”