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. In a statement, UBF Chairman Abdul Aziz Al Ghurair said the platform is a first in the global economy, and it will offer “a vital patch towards a future [of] cashless payments and cash-free environment in the UAE.” The technology however has no official release date.
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.