DUBAI, 23rd December, 2020 (WAM) — Dubai Economy has signed a memorandum of understanding with the Emirates Payment Services to enable payments relating to commercial licences through the Empay smart application, the world’s first contactless instant credit lifestyle payment ecosystem.
The agreement will enable customers of Dubai Economy to have an instant credit facility and complete licencing transactions within five minutes.
Users registering on Empay can have their Emirates ID scanned on the app, following which a digital card with an instant credit balance will be generated in two minutes. The digital card, which is powered by Mastercard, will enable users to complete payments in a smooth, fast, smart, and secure manner. Empay can be downloaded from Google Play Store and App Store.
The signing of the MoU was attended by Mohammed Hassan Al Shehhi, Deputy CEO of Corporate Support Services in Dubai Economy, and Muna Al Qassab, Chief Executive Officer of the Emirates Payment Services LLC.
Empay was launched as part of the efforts of Dubai Economy to enhance the cashless payments ecosystem in the country and provide an efficient digital solution for transactions, and in line with the objective of the Dubai Cashless Working Group to consolidate the efforts of relevant government agencies towards accelerating Dubai’s successful and seamless transformation into a cashless society.
The innovative application will also contribute to achieving the goals of the Dubai Paperless Strategy, which aims to employ advanced technology in building an integrated system for paperless government work.