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UAE banks plan to launch mobile wallet in 2016

Monday 28 December 2015 09:28 CET | News

A group of banks in the United Arab Emirates plans to finalize a framework for mobile payments in the Middle Eastern in 2016.

The UAE Banks Federation, which is comprised of 49 banks, said it is working on the regulatory and legal framework for its direct debit system that will help power the mobile payments system.

Also, the organisation said the mobile wallet will use NFC and users can access it via a mobile app on a smartphone.


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Keywords: UAE, mobile payments, mobile wallet, NFC, mobile app
Categories: Payments & Commerce
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