Dubai dreams of a cashless society

Quisk Middle East FZ LLC, a payments technology company that specializes in digitizing cash, has signed an agreement with Network International, a payment solutions provider in the Middle East and Africa, to deploy what the companies are calling "a new cashless, cardless and mobile-free payment method."

The companies said in a press release that the new payment service is part of the Dubai Smart Government mission to use technology to boost the country's economic welfare and global competitiveness while contributing to social progress. The project involves a cloud-based Quisk product that uses mobile phone numbers and a secured PIN to create and secure a new type of digital cash account.

Network International will deploy the system across its point-of-sale network in the United Arab Emirates in 2016, according to the announcement. 

"We are delighted to collaborate with Quisk to make available innovative and convenient payment solutions across our network of POS terminals," Bhairav Trivedi, CEO of Network International, said in a statement. "This solution heralds a new era of cashless payments across the region, enabling people to conduct transactions anytime and anywhere, in line with Dubai Smart Government's smart transformation initiatives to support Dubai's aspirations."