Commercial Bank of Dubai, NOW Money to provide financial inclusion across the UAE

Monday 19 October 2020 16:23 CET | News

Commercial Bank of Dubai (CBD) has signed a partnership agreement with NOW Money, a digital account service, to provide accounts and cards targeted specifically at low-income customers.

NOW Money will open accounts for existing CBD low-income customers (previously known as Rateb customers) with immediate effect. These accounts will also be offered to customers currently not banking with CBD. NOW Money and CBD believe that this solution will assist customers and provide a personal financial experience that has been lacking in the market to date, according to the official press release.

NOW Money is the working name of NOW Payment Services Provider, licence number 767072 since 2016. The company uses proprietary mobile technology to provide accounts and low-cost financial services to lower-income people in the Gulf Cooperation Council (GCC) countries. NOW Money works with companies as a payroll service.

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Keywords: Commercial Bank of Dubai, CBD, financial inclusion, NOW Money, banking, digital banking, payment services provider, payroll service, financial inclusion
Categories: Banking & Fintech
Countries: United Arab Emirates
This article is part of category

Banking & Fintech