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|06 December, 2018

Ras Al Khaimah unveils a new smart way to pay

Move aimed to best manage and secure public funds, increase revenues and enhance sustainable development in the emirate

Image used for illustrative purpose. United Arab Emirates dirham.

Image used for illustrative purpose. United Arab Emirates dirham.

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UAE - The Department of Finance and eGovernment Authority in Ras Al Khaimah on Thursday launched its RAK SmartPay integrated e-payment system, which is designed to eliminate revenue collection leakage.

The move, based on the extension of partnership with RAKBank as exclusive acquiring bank and e-payment solutions provider STS PayOne, is aimed to best manage and secure public funds, increase revenues, and enhance the sustainable development in the emirate.

RAK SmartPay, based on STS PayOne's SmartGate, is a unified central payment platform that enhances accessibility to e-government 1,063 services by providing several payment methods including credit and debit cards as well as digital wallets, according to senior officials.

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Yousef Ali Mohammed, general manager of the RAK Department of Finance, said the project, in line with the RAK government's Vision 2030, is part of their commitment to adopt most innovative solutions and meet the needs of beneficiaries. "The project, covering 1,063 diverse services, is to boost the financial performance of the RAK Government in view of the latest international practices and standards, considering global competitiveness and ongoing smart transformations regionally and worldwide."

Mohammed told Khaleej Times that the RAK SmartPay is to increase the government revenues by 15 to 30 per cent. "This new smart system will put an end to revenue collection leakage."

He added that 18 out of 48 government entities are now covered in the first phase of the project. "The remaining 30 entities are to be added in the second two phases," he said, noting that they review all expenses and revenues every month, and "more extensively every three months."

The Emirates ID card shall be integrated in the new system. "This will save much time, effort and money," he stated.

Janti Abdallah, general manager of STS PayOne, said that clients can simply make payments through an array of user-friendly channels.

"These include the 'mrak' smart app, 'rak.ae' Web portal, along with 400 points of sale, and over 1,000 kiosks nationwide which are expected to be increased to 3,000 as per demand."

Ahmed bin Saeed Al Sayah, general manager of the eGovernment Authority in Ras Al Khaimah, said the project will help improve the quality of life and competitiveness of the smart transformation process in the emirate. "We want to utilise the world-class technology of digital payment to provide the safest revenue collection methods, ensure customer protection, offer a safe revenue for the government, and reduce costs."

Peter England, CEO of RAKBank, said they spare no effort to promote convenient and secure e-payment solutions and simplify payment procedures for citizens and residents in the emirate. "RAK SmartPay will be a significant stride in Ras Al Khaimah's financial and digital development that will contribute to achieving the emirate's sustainable economic development goals."

 

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