National Bank of Fujairah: Say goodbye to cash!

Vince Cook
Filed on October 14, 2020 | Last updated on October 15, 2020 at 03.19 pm
Vince Cook, Chief Executive Officer, National Bank of Fujairah.

National Bank of Fujairah introduces the NBF klip mobile app for convenient transactions.

klip - the UAE's Digital Cash, operated and managed by Emirates Digital Wallet (EDW), is the only domestic digital payment scheme aimed to make the UAE cashless. This is in line with the various UAE government initiatives to drive digital transformation in the UAE. The robust, secure and interoperable digital cash platform aims at eradicating the use of physical cash and help the UAE transition into a truly cashless society by providing a digital equivalent for physical cash.

At National Bank of Fujairah (NBF), we always strive to improve our offerings to strengthen our customers' experience. An example of this is our enrolment in klip - the nationwide multi-bank initiative that provides instant purchase and person-to-person payments via a mobile app. We are proud to play a leading role in the digitisation of the country's banking services and its wider economy and are honoured to be one of the launch partners in this significant milestone.

The rollout of klip during this current pandemic will help to further accelerate the use of digital solutions in place of cash and open a wealth of related services for both banked and unbanked UAE residents. In recent months, we have seen an increased use of all our digital channels, and klip will now provide a further enhancement in our offerings with its efficient, easy-to-register, cost-effective, and most importantly, secure and safe platform for cashless payments. The features klip offers are now accessible through the NBF klip mobile app. klip can be used to purchase goods or services, to send and receive money, and to store money on your smartphone anytime, anywhere as required.

As a bank, we recognise that there is a rapid shift towards a cashless society. On that, we are working towards meeting customer requirements and improving the experience. In the background, we are also working tirelessly to enhance our alternative channels in order to provide a greater number of digital payment options and enhancing our security systems in an effort to mitigate evolving risks. Just recently, we partnered up with Ministry of Finance (MOF) to launch the e-Dirham payment scheme, which allows customers to pay for governmental fees and services using online banking. Covid-19 has accelerated the transition to a cashless world, and it becomes imperative for banks to step in to provide new, safe and seamless payment channels.

Vince Cook is the Chief Executive Officer at National Bank of Fujairah.

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