Allowing users to pay bills and send remittance, the Etisalat Group launched its mobile wallet solutions with “state of the art” ISO-1 compliant security features. Etisalat’s mobile commerce application is a fully functional mobile wallet that offers a full range of mobile banking and transaction services. It will provide millions of people with access to banking for the very first time. Etisalat’s Mobile Commerce service is developed in-line with its strategy of including un-banked and under-banked customers into the regulated financial services space, enhancement of financial transparency and expansion of financial transaction channels. This service will provide millions of people with access to banking for the very first time.
Fime testing services for smart devices and secure chip-based applications has certified Qatar National Bank’s (QNBs) contactless mobile payments solution for its compliance to MasterCard PayPass Specifications.The pilot project is Qatar’s first NFC payments initiative, offering QNB customers and merchants a convenient and quick way to make and accept payments through the use of NFC-enabled handsets and POS contactless terminals. The mobile payments project is part of a phased implementation plan where QNB will work closely with project participants to deploy contactless POS terminals in Qatar’s leading NFC cities.
UAE Exchange launched its 2011 version of “Onasowbhagyam” for Keralite customers in the UAE. The 10-day promotion allows customers sending money to Kerala to do so in a specific time period during the day through any UAE Exchange branch in the UAE. They need to then send their transaction number through SMS to 4642, to qualify for the corresponding daily draw and win prizes including INR 25,000 and a Gold Coin daily. The special timing called ‘Onasowbhagyam timing at UAE Exchange’ will be conveyed to the customers daily through Radio Asia or NTV. The “Onasowbhagyam” also has a strong global network with over 530 direct offices in 24 countries, along with correspondent relationships with over 150 global banks.
Abu Dhabi Islamic Bank (ADIB) Islamic financial services has appointed UAE Exchange global remittance and foreign exchange brand a collection agency for “Covered Card” payments by the bank’s customers. Abu Dhabi Islamic Bank (ADIB) was established in 1997 as a Public Joint Stock Company following the Emiri Decree No. 9 of 1997. UAE Exchange has a strong presence with more than 520 direct offices in 24 countries across five continents built over 30 years of committed customer service while its remittance operations contribute to 5.28% of the global remittance volume, has a 7000+ professional team representing over 40 nationalities striving to enhance customer experience, worldwide.
UAE Exchange global remittance and foreign exchange brand has been awarded the Superbrands status for the third consecutive time, considered to be a stamp of quality and innovation. It is awarded based on market dominance, longevity, customer loyalty and other related criteria. UAE Exchange was chosen as one of the most preferred and strongest brands in the UAE during 2009 and 2010 too and has more than 520 direct offices spanning over 24 countries across five continents. The strong correspondent banking relationship with over 150 global banks further adds to its strength to reach out to over 3.5 million customers with the best service.
Vodafone Qatar has launched its new service Vodafone Money Transfer. This will allow customers in Qatar to instantly make international money remittances directly from their mobile phone. Approved to launch by Qatar Central Bank, this service is a milestone not only in mobile telecommunications, but also in improving accessibility of financial services to low-income groups. Vodafone Money Transfer is a way to send money to family overseas. The service will make it easier to send money overseas for the more than 1 million expatriates living in Qatar who send the bulk of their salary home to their family. The Vodafone Money Transfer users in Qatar will be able to send funds directly from their mobile phones to any GCash enabled mobile in the Philippines, or send money to a bank account or for collection at a GCash Remit outlet. All Vodafone and GCASH transactions are secured with a PIN to ensure security of the fund transfer. In addition, both the sender and recipient are notified of the transaction via SMS.
SLMsoft.com, Inc., a
leading global provider of e-financial solutions, today announced a US$2.5
million contract with the Central Bank of United Arab Emirates to
establish an Application Service Provider Center for electronic banking
services in the United Arab Emirates.
“An enormous technological modernization is currently underway in the
Middle East and throughout the entire Asian region. The United Arab Emirates
is leading the way, and SLMsoft.com technology is playing a major role,” said
Govin Misir, Chairman and CEO of SLMsoft.com. “This transaction was made in
conjunction with Al Ghurair Enterprises for Computers (AGEC), our distributor
in the UAE. The distributor relationships we’ve established around the globe
continue to reward SLMsoft.com, and we look forward to benefiting from both
existing and new relationships as they help us to further drive our revenue
“SLMsoft.com’s products will enable the Central Bank to quickly move to
the forefront of the region in terms of technological capability, and provide
a leadership role in strengthening the electronic banking infrastructure of
the country,” said Bank spokesperson Mr. Khalifa Al Dhaheri. “After performing
careful due diligence upon all vendors, SLMsoft.com was the only provider that
could supply high quality end-to-end electronic banking solution that would
enable the bank to establish an electronic banking infrastructure that meets
all our technical requirements. SLMsoft.com’s solution is very secure,
reliable and highly efficient which will provide the benefits we are looking
for as the volume of transactions increases in the UAE.”
Under the terms of the agreement, SLMsoft.com will provide the Bank with
its FTS and VFS software solutions. FTS enables efficient transactions from
any end-user delivery channel and exchanges them securely and seamlessly with
any destination. SLMsoft.com’s FTS switching technology is installed
throughout the world and is acknowledged as the leading edge technology in its
field. FTS is capable of providing scaleable transaction management solutions
to meet the needs for small financial institutions and for such world leading
global banks as the Bank of China. SLMsoft.com’s open system FTS technology is
replacing the Bank’s previous proprietary national switch providing the Bank
with the inherent flexibility of open system technology. Linked with
SLMsoft.com’s java based MCF architecture, the FTS solution provides
significant value to its customers through managing the customer information
for all applications.
SLMsoft.com’s VFS software facilitates the secure exchange of information
and transactions over the Intranet/Internet and allows for the custom
deployment of bank-branded financial services. Beyond providing Internet
access to all its banking customers, organizations using VFS can add value to
their business clients’ banking experience as customers can leverage the
efficiencies of on-line electronic banking to manage their payroll, payables
Founded in 1986, SLMsoft.com is a leading developer of electronic payment
systems and transaction processing solutions, including e-commerce
applications with a focus on the financial services industry. SLMsoft.com
provides real-time end-to-end e-banking solutions that include Internet
banking, interactive voice recognition (IVR), debit and credit card issuing,
automated teller machines and point-of-sale network management, retail branch
management, and e-CRM enabling technology. SLMsoft.com also provides
investment brokerage client and portfolio management applications for the
brokerage industry; e-health solutions which enable health insurance claims to
be evaluated at the point of service, processed and settled in real time; and
e-government solutions which enable consumers to pay fees for government
services in person, at kiosks, through IVR systems or the Internet. For more
information, please visit the Company’s website at www.slmsoft.com .
Western Union Financial Services, Inc., a
subsidiary of First Data Corp., announced the addition of
Algeria to the growing list of countries served by its international money
transfer system. Alliances with Societe Generale Algeria, El Khalifa Bank,
and the Algerian Post Office will create an estimated 200 Western Union agent
locations throughout Algeria by year-end and will allow Western Union to offer
money transfer services to the nearly three million Algerians living abroad.
Western Union’s agreements with the Societe Generale Algeria and El
Khalifa Bank have been operational for several months, providing services in
more than 30 locations in major cities nationwide. Both organizations are
expected to vigorously pursue expansion opportunities. In addition, the
recent agreement with the Algerian Post Office will significantly amplify the
presence of Western Union throughout Algeria and will help extend its reach to
Algerian populations in rural areas as well as urban communities. The Post
Office is projected to offer service through 100 locations by the end of the
“The addition of the Algerian Post Office, Societe Generale Algeria and El
Khalifa Bank illustrates Western Union’s policy of aggressive international
expansion,” said Charles T. Fote, president and chief operating office, First
Data Corp. “These agreements represent a significant extension of the Western
Union global agent network and enhance our presence throughout Africa. They
also demonstrate our commitment to ally ourselves with the most trusted and
service-oriented local businesses.”
Both postal organizations and local banks provide Western Union an
important link to communities around the world and have become valued agent
partners. With the addition of Societe Generale Algeria, the Algerian Post
Office and El Khalifa Bank, Western Union Money Transfer services are now
available through more than 100,000 locations that span the globe, providing
an unparalleled international presence in the field of money remittance.
About Western Union and First Data Corp.
Western Union Financial Services, Inc., a subsidiary of First Data Corp.
(NYSE FDC), is a worldwide leader in consumer money transfer services.
Consumers can quickly, safely and reliably transfer money at over
100,000 agent locations in more than 185 countries and territories using the
Western Union money transfer network. Famous for its pioneering telegraph
service, the original Western Union dates back to 1851 and introduced
electronic money transfer service in 1871. Western Union is celebrating its
150th anniversary in 2001. For more information, please visit the company’s
Web site at http//www.westernunion.com.
First Data Corp. (NYSE FDC), with global headquarters in Denver, powers
the global economy. Serving approximately 2.6 million merchant locations,
more than 1,400 card issuers and millions of consumers, First Data makes it
easier, faster and more secure for people and businesses to buy goods and
services, using virtually any form of payment credit, debit, smart card,
stored-value card or check at the point-of-sale, over the Internet or by money
transfer. For more information, please visit the company’s Web site at