Empay- The world’s first contactless payment
Conceptualized in the year 2017 and launched on December 1, 2020, UAEs 49th National day, Empay is the world’s first contactless payment ecosystem offered by the Emirates Payment Services LLC. It is a mobile payment application designed and developed within the UAE’s Smart Government framework to support its digital transformation initiatives.
Empay is seen as a key disruptor for UAE’s fast-moving digital economy as it has been designed to involve individuals from all walks of life backed by features like NFC and QR based payments. Additionally, Empay also offers micro-credit facilities, P2P transactions and International remittances to its users. So, the taxing work of completing loan formalities and paperwork by visiting a physical branch is now a thing of the past
Empay — A brief overview:
Empay is a digital ecosystem that connects banks, financial institutions, merchants with the end-consumer. It is a culmination of government and private sector service payments along with lifestyle services.
What sets it apart is its treatment of financial and non-financial transactions like identification and verification services in a single app, usually not available in other payment solutions.
This wallet’s main objective is to provide a unified platform for making payments and removing the need to download too many apps.
The services covered under Empay:
- All types of bill payments
- Utility payments
- International remittance
- Food orders
- Education fee payment
- Business-related license renewals
- P2P (Peer-to-Peer) micropayments and so much
This wallet is open to both UAE residents and Expats, having a valid Emirates ID card. It also offers a MasterCard powered virtual card nestled within the app to the user.
Empay is an excellent value addition for the rapidly progressing UAE digital payments market. Given the catalyst of COVID-19, there has been a remarkable change in lifestyles and day-to-day commerce and increased online retailing in the region. Empay aims to address all these changes by unifying a range of services in one app.
Empay: A differentiated payment experience!
I believe this wallet is a potential disruptor and has the power to relegate other similar wallets to an insignificant space. It’s a bold and ambitious initiative by the Dubai government backed by the Central Bank to move towards a completely digital economy with a twin objective of financial inclusion and cashless convenience.
Since its launch, I have been using this app and have not opened my cash wallet for any other card/cash for regular transactions. To make small-ticket purchases like in Baqalas, I have made this my primary wallet/card for all online and in-store transactions.
Some of the best features of the Empay digital card are:
- Login journey: It’s a complete E-KYC process where three basic details namely email id, phone number and Emirates ID are captured and instantly an Empay wallet is activated. Sign up process was extremely seamless and happened in a jiffy.
- In-app services: it’s a full Zomato experience within the same app. Placing an order at my favorite restaurant to tracking it has never been this easy.
- Link card feature: I have linked my Empay digital wallet with my existing card one time and reloading the wallet is just a single click exercise now
Its indeed an integrated app, right from your morning coffee to paying for your taxi ride to large business-related license renewals, users need just one app — Empay.
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