As part of its tireless efforts to promote the economy free of printed money, Emirates Digital Wallet LLC (EDW) has added the Ras Al Khaimah National Bank (RAKBANK) to klip, UAE’s digital cash platform, spread across the country to break free from printed money. EDW is managed under the auspices and leadership of the UAE Banks Federation, with the aim of reducing the use of actual cash, and supporting the efforts of the UAE government in leading the digital transformation.
Peter England, CEO of RAKBANK, comments, “The use of traditional payment methods that rely on printed securities is gradually disappearing, especially during the past year as the epidemic directly affected people’s behaviour in relation to contacting securities. It is important to invest and continue to grow in things that align with the needs of the people residing in the UAE by offering convenient and integrated payment solutions that allow the development of a cashless society. Therefore, RAKBANK is committed to the early adoption of the latest technologies and focuses on always being a forerunner in global banking trends. In this regard, we are very pleased to collaborate with Emirates Digital Wallet through the klip platform to provide secure and seamless digital payment options to our customers. “
Arif Al-Ramli, CEO of Emirates Digital Wallet, affirms, “We are fully committed to leading the UAE towards an economy that is virtually free of traditional printed cash, and the addition of new banks to the platform is a testament to our efforts in developing an ideal digital cash platform. Our strong growth is also represented by the following: the acceptance of the platform system by merchants across the country, and the help of our banking partners in taking a distinguished position to lead the transition from traditional printed cash to being able to provide digital means that will give our customers instant, secure, and continuous payment options, and we will give our merchants the option to accept our platform at a reasonable price.”
“The UAE economy has demonstrated strong resilience during the COVID-19 pandemic and businesses have reacted quickly to exceptional and unprecedented circumstances by activating digital payments. The change in consumer behaviour will continue to evolve, anticipating further growth in digital payments, “concludes Al-Ramli.
171 Comments