Emcredit is partnering with Britain’s Object Tech Group to develop contactless payments on smartphones, using the emCash digital currency in Dubai.
emCash will be the digital currency in the emPay wallet and will be used to pay for a number of services, both in the private sector and government based.
emPay will allow the UAE residents to make varied payments through the near field communication (NFC) option on their smartphones.
emCash is expected to accelerate Dubai’s evolution into a smart economy. It should simplify and improve how to do business in Dubai. emCash should also help reduce fraud and inflation.
Emcredit is a subsidiary of Dubai Economy.