The UAE Banks Federation, a standards body representing 50 Emirates banks, has cleared its mobile wallet project for launch and is now awaiting final approval from the nation’s central bank following a pre-implementation phase completed in December. The UBF mWallet project represents the financial component of the UAE’s Smart Government initiative and will enable banks to offer P2P, NFC mobile payments and loyalty programs to customers.
- Boston to introduce NFC and contactless transit ticketing
- UK challenger bank Monzo lets account holders save funds in flexible pots
- Samsung Pay goes live in Mexico
- Issuers to adopt common QR code for payments in Singapore from 2018
- Norwegian banks to form joint venture in bid to combat threat of global tech giants