Dubai, 14 June 2017
Emcredit, the company created by Dubai Economy, is soon going to launch empay, a unique mobile payment solution developed within the framework of the Dubai Smart Government initiative and it aims to revolutionize customer experience by enabling them do their financial and non-financial transactions in fast, smart and secure way.
The inspirational logo with a smile to portray happy customers was unveiled during a special event at Dubai World Trade Centre attended by Ali Ibrahim, Deputy Director General of Dubai Economy and Managing Director of Emcredit Limited; Muna Al Qassab, CEO of Emcredit Limited; Ali Moosa, Head of Distribution at Noor Bank, and other senior government officials, key private sector figures and representatives of financial and technology institutions.
At the event, Emcredit and Noor Bank signed a Memorandum of Understanding for the latter to use empay mobile payment solution.
Mr. Ali Ibrahim said: “empay will set a benchmark in the region for mobile payment solutions. As an initiative of the Dubai Economy, it merges two key elements of the vision of His Highness, Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai – that of making Dubai a Smart city and a Happy City, a fact is amply reflected in the logo of empay.
“The product, which has been developed by mapping the common lifestyles and habits of people in the UAE, will make people experience the next level of reliability, convenience and speed in this era of cashless transactions. Emcredit is indeed proud to present this next generation payment solution to UAE, which is dedicated to the people of the UAE”.
Hussain Al Qemzi, Managing Director of Noor Bank said: “We are delighted and privileged to partner with Emcredit to offer UAE’s customers ‘empay’, a cutting-edge mobile payment solution that’s seamless, easy to use and most importantly, secure. In line with the Government of Dubai’s vision and direction to ‘go smart’, Noor Bank has consistently been at the forefront of innovation and this offering, that plans to be integrated with Emirates ID, is one more example that showcases our ability to bring value to the increasingly connected market and meet the demands of digitally savvy customers.”
Muna Al Qassab said: “It is a moment of great pleasure to announce our partnership with Noor Bank. We have confidence that this collaboration between two of us for empay will definitely ease the life of people of UAE by allowing them to make financial and non-financial transactions in a smart way, bringing together various services providers under one platform.
“We are truly grateful for our partners including Noor Bank, and with their continued collaboration, Emcredit intends to implement an aggressive long-term marketing strategy to promote empay in the UAE. With partners that have diverse and superior products we are confident that empay will be an incredible payment system for customers across the country,” she added.
Emcredit’s support tools enable private and public entities to gain a greater perspective into the risk profiles of individuals and companies, thereby empowering them to make more informed business decisions. Emcredit has established data-sharing agreements with several government departments to power its information solutions.
About Noor Bank
Noor Bank began operations, in Dubai, in 2008, as Noor Islamic Bank. It is a full service bank delivering the broadest range of products for its customers, with an emphasis on unique and personalised service. Noor Bank is governed by the Shari’a Supervisory Committee, comprising of leading Islamic scholars, comprising leading Islamic scholars with extensive experience and expertise in legal, financial and banking-related matters. Noor Bank is rated “A-” IDR with a stable outlook by Fitch Ratings. The corporate shareholders of the Bank are The Office of the Crown Prince of Dubai (25.73%), the Investment Corporation of Dubai (22.71%) and the Emirates Investment Authority (4.7%). The remaining shares are beneficially held by individuals who each own less than 5% of Noor Bank. For further details, please visit: www.noorbank.com or call 800 6667.
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© Press Release 2017