Al Fardan Exchange, a UAE financial services provider, has announced a partnership with fintch startup Empay, which offers contactless payment and instant credit solutions. Empay was designed and developed within UAE’s Smart Government program framework.
The deal means that Al Fardan Exchange will be the exclusive remittance partner of Empay, which was looking to scale up its operations in this important financial services sector.
Selecting the Al Fardan Exchange icon on the Empay app now allows access to its remittance services and after satisfying the one-time KYC norms as stipulated by the UAE Central Bank, users can immediately transfer money to their beneficiaries, either to a bank account, or as instant cash.
"The partnership opens yet another channel to extend Al Fardan’s services to a wider audience in the UAE, offering even more flexibility and choice to customers," said Hasan Fardan Al Fardan, CEO of Al Fardan Exchange.
Muna Al Qassab, CEO of Empay, said: “Empay’s in-app payments transcend UAE borders. From the tap of a button, users can now remit money across the globe. Since we are living in the day and age of contactless payments; Empay seeks to fulfil the need for avoiding long queues and endless waits for international money transfers.”
Gigi George Koshy, Deputy CEO & CPO of Empay, commented: “The vision behind the UAE’s Smart Government programme is to reinforce the customer-centric approach to all our services and offer a flexible digital channel that supports multiple activities. This partnership complements and advances the progress UAE has made in this sphere."
Al Fardan Exchange was founded in 1971, and since then has grown its exchange network to more than 70 locations across the UAE and enjoys longstanding relationships with more than 150 banks and other financial institutions.
Empay can be used across a wide variety of payments and lifestyle services such as government payments, tap & pay payments (Android), all types of bill payments, food ordering from restaurants, education fee payments, international remittances and much more.
UAE residents can download the free super app from the Google Play Store or iOS App Store and register in just two minutes, and avail a Mastercard powered digital card within the app.
