du, a telecommunications company, announced the launch of du Pay, another step forward in UAE's transition toward a cashless economy and aligning with the national agenda for digitalisation. The innovative digital financial solution is set to play a pivotal role in enhancing financial inclusion, accessibility, and security.
Licensed by the Central Bank of the UAE, du Pay is on a mission to simplify digital financial services for everyone, everywhere in the UAE. It offers a diverse portfolio of digital financial services and payment services, from international money transfers and peer-to-peer (P2P) transfers to mobile top-ups and bill payments. It also supports salary deposits through an IBAN, serving as an account for users. Available in six languages – Arabic, English, Hindi, Bangla, Malayalam, and Tamil, du Pay ensures inclusion for its varied user base.
With USD 39.7 billion in international money transfer volumes originating from the UAE, du Pay is set to tap into this extensive market by providing services that prioritise simplicity and a customer-centric experience. Capitalising on du's infrastructure and market reputation, du Pay leverages du’s assets and expertise to deliver a platform that is not only convenient and cost-effective, but also tailored to meet the evolving needs of customers. This move is aligned with market projections, which anticipate substantive growth in the digital payment sector, expecting it to reach USD 3.3 trillion in payment services by 2031.
du Pay's features for users across the UAE:
Payment card: Facilitates seamless online and offline transactions globally;
Billing and mobile recharge: The app simplifies bill payments and mobile recharges;
International money transfers: Users can send money to over 200 countries at competitive rates;
Peer-to-Peer (P2P) transfers: The platform offers transfers to any mobile number in the UAE with ease;
Unique IBAN: Users can receive funds, including salaries notably for domestic workers, directly within du Pay app;
Cardless cash withdrawals: ensures customers can withdraw cash without the need for physical cards from selected ATM in the UAE;
Convenient fund additions: Adding funds is made easy via debit cards, bank accounts, or an extensive payment machine network across the UAE.
The mission driving du Pay is to simplify financial transactions through a secure and intuitive application. du Pay's vision extends beyond today's market, aspiring to eliminate constraints posed by language, network, or limitations to become the preeminent mobile payment platform in the UAE.
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