The government of The United Arab Emirates ( Smart Government ) has reportedly signed a memorandum of understanding with between 16 of the largest banks in the country to create a mobile wallet platform. Offering a “a vital patch towards a future [of] cashless payments and cash-free environment in the UAE ” according to the chairman of UAE , this move is also “essential” to develop the country’s UAE Banks Federation initiative. The technology however has no official release date.
The government of the United Arab Emirates (UAE) has reportedly signed a memorandum of understanding with 16 of the largest banks in the country to create a mobile wallet platform. Offering a “a vital patch towards a future [of] cashless payments and cash-free environment in the UAE” according to the chairman of UAE Banks Federation, this move is also “essential” to develop the country’s Smart Government initiative. The technology however has no official release date.