Emcredit, a subsidiary of the Dubai Economic, has inked a partnership with Cardtek to offer a secure infrastructure for mobile payments, identification, and extended smart government services for UAE residents.
As a part of Dubai’s Smart Government Initiative, emPay will bring together a number of service providers including commercial banks, government departments, exchange houses, retailers, educational institutions, and transportation companies, into a common platform where consumers are easily able to access and pay for a wide variety of services from a single mobile wallet platform.
Through the collaboration, consumers in the UAE will be able to make retail payments (in-store and remote payment), initiate money transfers, pay for government utilities, telecommunication, and school fees, among many other options, from a single mobile wallet.
Cardtek will provide Emcredit the payment infrastructure, along with mobile industry knowledge, operational services and product enhancements to support future needs. The solution basically uses NFC technology, and allows to use not only the handset of mobile devices but also the wearables.
Emcredit is the UAE’s pioneer credit information company created by the Dubai Department of Economic Development (DED). It was established to provide public and private entities with enterprise and credit information solutions, credit information reports, data verification, data enrichment, decision support analytics and other tools necessary to improve customer acquisition, assessment, servicing, debt collection and portfolio management. Emcredit has also established data-sharing agreements with several government departments, to power its information solutions. These government entities include Dubai e-Government, Dubai Police, Department of Economic Development (DED), Dubai Land Department and its subsidiary, the Real Estate Regulatory Authority.
Cardtek provides innovative end-to-end payment solutions to more than 150 customers in 25 countries, including financial institutions, processors, telecom operators, personalization bureaus, retailers, terminal and card vendors, and public transportation authorities. With 15 years of experience in EMV, Cardtek is offering well-established solutions to US market from new Silicon Valley Office. Moreover, Cardtek is a player in emerging mobile payment, open-loop transit and wearable payment technologies.