Emirates Digital Wallet has announced a new collaboration with First Abu Dhabi Bank, FAB, Mashreq Bank, National Bank of Fujairah and Mastercard for the launch of klip, Emirates Digital Wallet’s Digital Cash Platform.
Klip seeks to offer a simple way for users to transfer money to others via a mobile number and allows users to seamlessly pay for goods in-store using the existing merchant reach offered by its partner banks.
It further enables small businesses to start accepting digital payments via mobile phones, meaning more businesses can tap into the digital economy.
Hana Al Rostamani, Deputy Group CEO and Head of Personal Banking at FAB, stated: “Consumers are demanding digital options across a multitude of industries and that includes banking, payments and purchases. The introduction of klip for customers and merchants across the country will drive the cashless objective of the UAE and will help in bolstering the UAE’s financial ecosystem.
“FAB is always committed to providing futuristic and interoperable solutions that drive the digital payments journey and improve customer experience.”
Subroto Som, Senior Executive Vice President – Group Head of Retail Banking Group, Mashreq Bank, also detailed: “With a legacy of innovation lasting more than half a century, Mashreq has repeatedly shown its commitment to embracing technology that improves the customer experience. Our support for klip underlines our fundamental belief in the Government’s vision of establishing the UAE as a digital leader and we are excited to be able to bring this unique digital wallet to our customers.”
Vince Cook, CEO of National Bank of Fujairah, added: “As a National Bank, we are proud to play a leading role in the digitization of the country’s banking services and its wider economy and are honoured to be one of the launch partners in this significant milestone. The rollout of klip at this time will help further accelerate the use of digital solutions in place of cash and open a wealth of related services for the unbanked.
“In recent months we have seen increasing take up of all our digital channels and klip provides a further enhancement in our offerings with its efficient, cost-effective, and most importantly, secure and safe platform for cashless payments.”
“Growing the domestic payment ecosystem is crucial for the development of a robust digital economy that positively impacts communities. We are proud to come on board as a trusted partner and technology provider and join hands with leaders across the UAE to deliver Mastercard’s expertise and help drive inclusion to support the UAE’s vision of a connected, digital future,” said Khalid Elgibali, Division President – Middle East and North Africa, Mastercard.