UAE’s du, also known as Emirates Integrated Telecommunications Company (EITC), has launched du Pay, marking a significant milestone in the country’s transition toward a cashless economy and aligning seamlessly with the national agenda for digitalisation.
The innovative digital financial solution is poised to play a pivotal role in enhancing financial inclusion, accessibility and security.
“du Pay underlines the company’s commitment to leveraging technology for financial empowerment, contributing to the directives of the UAE’s leadership towards a fully digitalised and inclusive financial ecosystem,” said Fahad Al Hassawi, the CEO at du.
“By drawing on the strengths of our partnerships and our innovative approach, we aim to make significant contributions to the UAE’s journey towards becoming a global leader in the digital economy.”
du Pay, which is licensed by the Central Bank of the UAE (CBUAE), offers a diverse suite of digital financial services and payment services, from international money transfers and peer-to-peer (P2P) transfers to mobile top-ups and bill payments.
The digital financial solution supports salary deposits through IBAN. With an impressive $39.7 billion in outward international money transfer volumes from the UAE, du Pay is positioned to tap into this extensive market by providing services that prioritise simplicity and a customer-centric experience.
du Pay is leveraging the telecoms operator’s assets and expertise to deliver a superior platform that is convenient and cost-effective and is tailored to meet the evolving needs of customers.
du secured a licence from the CBUAE to offer digital financial services in March. The licences enable the company to introduce innovative financial solutions that will contribute to the development of an advanced, modern, future-ready financial ecosystem across the UAE.
