Emcredit, a subsidiary of Dubai Department of Economic Development (DED), in collaboration with payment technology providers Cardtek and NXP Semiconductors, has launched a new mobile wallet solution – empay – in the UAE.

The newly launched solution will allow users to pay for various goods and services using smart wearable technology or multi-functional devices.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Under the partnership, Cardtek will provide the payment infrastructure, mobile industry knowledge, operational services and product enhancements, while NXP will provide the NFC controller and secure element to allow consumers to use the service on wearable devices.

With the latest payment solution, consumers can easily make retail payments, initiate money transfers, and pay for government utilities – like telecommunication and school fees – using either an active wearable or mobile device.

NXP marketing manager for secure transactions and identification business Jean-Claude Denniel said: “As co-founder of NFC technology and expert in security solutions, NXP is committed to providing secure, convenient and scalable solutions to enable tap-to-pay experiences for mobile devices and wearables alike.

“empay is a fantastic example of multi-service implementation on a wearable device platform that is easy to implement and service for the provider and most intuitive to use for the consumer.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Emcredit CEO Muna Al Qassab said: “Through the empay initiative, we aim to offer UAE citizens a radically improved payment experience. This turn key solution will allow empay consumers to enjoy the convenience of accessing their mobile wallet on the go – simplifying the entire payment journey with hands-free convenience.”