Pay parking, utility bills in UAE with Etisalat Wallet

Abu Dhabi - Mobile technology will deliver progressive banking to further spur economic growth through transformational customer experience.

UAE-based telecom company Etisalat on Monday announced the launch of its new Etisalat Wallet service in the country.

The wallet will allow customers to make purchases, pay utility bills, transportation fees, top-up Etisalat's mobile credit, etc. using one simple mobile application. The application is available for download from Google Android and Apple iOS Application stores.

Etisalat Wallet will be accessible around the clock directly from customers' mobile phones while in the UAE or traveling abroad and serves as the new digital wallet, thereby eliminating the need and risk of carrying cash.

The wallet will allow users to do the following:

a) Pay utility bills
b) Purchase parking ticket in Dubai, Abu Dhabi and Sharjah
c) Top up Etisalat credit, including family members
d) Purchase goods and services at participating local merchants and major international store chains
e) Be in control of transactions with automatic reports, notifications and account management features

Khaled El Khouly, chief consumer officer, Etisalat (UAE), said, "Research has shown that m-banking and m-payments can help lower the transaction costs of money transfer, increase the flow of money by making it easier to send across smaller amounts, and introduce secure financial transactions and management without bank accounts. By enabling people to use their mobile phones as mobile wallets, we hope to deliver lasting benefits not just for our progressive customers, but also for the economy of the UAE. We believe the benefits to our customers will be immense and that our new service has the potential to transform the way money is handled and managed. The mobile phone has already positively impacted our lives in many ways - and it's exciting to think that it now has the potential to replace notes and coins and give all of our customers access to world-class banking services."

With 170 per cent of mobile phones penetration in the UAE the mobile phone is rapidly becoming the method of choice for making payments and managing money. Etisalat is optimizing its services in close cooperation with leading UAE Banks and in accordance with the Central Bank of UAE regulations, thus creating a world of opportunities for businesses, SME and progressive consumers.

• Mobiles