Emcredit showcase latest innovative

By Jamil Khan | DUBAI 

THE secure, efficient and contact-less mobile financial solution will be adopted by a wide range of money exchange and other financial institute as the first phase is in full swing. This was stated by MunaAl Qassab, Director – Business Development Emcredit while talking to media on the sideline of 2-dayEcommerce Show Middle East held at Dubai International Convention Centre.
Recently, the Emcredit, a subsidiary of the Department of Economic Development (DED) in Dubai, has signed a memorandum of understanding (MoU) with SMK Logomotion Corporation, a global provider of mobile payment solutions, to develop and launch innovative and secure payment products and services in the UAE to benefit local consumers, banks, finance houses and telecommunication companies.
Utilising Emcredits local expertise and SMK Logomotion’s global experience, the two sides will design user-friendly mobile payment solutions for different customer segments in the UAE, starting with secure and efficient branchless banking.
“It is one-point solution for consumer as well as issuer as the highly secure chip to be placed in mobile phones in place of memory card will have all the data as the device will be ready to use as contactless financial services at any place in the country. One registered and installed the LGM Card in mobile phone could also function as an employee card or ID Card and enables the storage of tickets, electronic signatures etc. The consumer has constant control over payments that have been made with the LGM Card via their phone,” she said.
She said that in the first phase which will be completed in 3-4 months, all the money exchange will be equipped with service while in next stage other financial instate will be covered and individuals soon.
Tatiana Mihalyova, Chief Marketing Officerof SMK Logomotion Corporation said that “the service provision of telecommunication/banking services to both public and private institutions through provision of adequate, reliable and competitively-priced solutions.”
-Published in The Gulf Today

~ by jamilkhan on June 3, 2016.

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