Cardtek, Emcredit launch mobile wallet in UAE

Cardtek, a leading international payment solutions provider, has partnered with Emcredit, a subsidiary of the Dubai Economic Department, to launch a secure mobile payment platform, offering UAE residents a national mobile wallet solution.

emPay will bring together a number of service providers including commercial banks, government departments, exchange houses, retailers, educational institutions, and transportation companies, into a common platform where consumers are easily able to access and pay for a wide variety of services from a single mobile wallet platform.

Through the collaboration, consumers in the UAE will be able to make retail payments (in-store and remote payment), initiate money transfers, pay for government utilities, telecommunication, and school fees, among many other options, from a single mobile wallet.

Cardtek will provide Emcredit the payment infrastructure, along with mobile industry knowledge, operational services and product enhancements to support future needs. The solution basically uses NFC technology, and allows using not only the handset of mobile devices but also the wearables.

"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," said Cardtek CEO Ayse Nil Sarigollu.

"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."

Muna Al Qassab, CEO-Emcredit said: "We are extremely pleased with our partnership with Cardtek. 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."

SOURCE: TradeArabia News Service