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Emirates Digital Wallet to 'Klip' cash usage

Wam/Abu Dhabi
Filed on September 2, 2020
Emirates Digital Wallet is working towards enabling all individuals and businesses in the UAE to move away from the use of physical cash.

The nationwide initiative - jointly set up by 15 of the UAE's leading national banks - aims to drive digital transformation across the UAE economy and society.

Emirates Digital Wallet announced on  its first major step towards eliminating the use of physical cash, as Klip, the UAE's digital cash platform, enters its final round of testing.

The nationwide initiative - jointly set up by 15 of the UAE's leading national banks - aims to drive digital transformation across the UAE economy and society.

Mohammed Al Jayyash, chairman of Emirates Digital Wallet, said: "The vision for Emirates Digital Wallet has always been to act as the catalyst in creating a society without any physical cash in circulation. To get there, our mission involves implementing and managing a digital cash platform, inclusive of all banks, businesses and individuals, that seamlessly integrates and replaces physical cash."

Sponsored and supported by the UAE Banks Federation (UBF) and the Central Bank of UAE, Emirates Digital Wallet is working towards enabling all individuals and businesses in the UAE to move away from the use of physical cash.

AbdulAziz Al Ghurair, chairman of the UBF, said: "The UAE banking industry has already made tremendous progress in this regard, adopting digital technologies to create a more robust, efficient financial ecosystem that supports the UAE's vision to empower society at all levels." - Wam


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