The UAE took the lead in the GCC region in terms of adopting electronic payment systems and the rising demand is likely to boost the personal financial transactions 70% via e-payment and smartphones by 2020, Khaleej Times reported citing industry experts.
Osama Al Rahama, chairman of Al Fardan Exchange Group, said that the UAE is the leader in payment systems and payments via smartphones in the region, depending on modern technological infrastructure.
Al Rahama added that the UAE is getting to change more toward the smart usage of technologies that enables this country to take up more payment solutions.
Taking these technologies into considerations by banks and financial houses will get benefits to customers and the entire economy of the UAE, he noted.
Mohammad Kamal Said, manager of the internal control department at Arab Company for Shared Services of the UAE, said the local lenders are regularly in search for the best solutions to satisfy their clients.
Said added that the central bank is playing a pivotal role to direct the local banks towards more payment solutions.
Osama Al Rahama, chairman of Al Fardan Exchange Group, said that the UAE is the leader in payment systems and payments via smartphones in the region, depending on modern technological infrastructure.
Al Rahama added that the UAE is getting to change more toward the smart usage of technologies that enables this country to take up more payment solutions.
Taking these technologies into considerations by banks and financial houses will get benefits to customers and the entire economy of the UAE, he noted.
Mohammad Kamal Said, manager of the internal control department at Arab Company for Shared Services of the UAE, said the local lenders are regularly in search for the best solutions to satisfy their clients.
Said added that the central bank is playing a pivotal role to direct the local banks towards more payment solutions.
Source:
Mubasher
