Complex Made Simple

AMEinfo exclusive with Empay: An all in one contactless instant credit and lifestyle payment ecosystem

On November 29, the Emirates Payment Services announced the launch of Empay, the world’s first contactless instant credit lifestyle payment ecosystem. Here's what you need to know

We have big expansion plans over the next few months to enhance our solutions Eligibility requires residents to have an Emirates ID and a minimum of AED 10,000 monthly salary P2P transfers between digital wallets amongst Empay users will be coming soon

On November 29, the Emirates Payment Services announced the launch of Empay, the world’s first contactless instant credit lifestyle payment ecosystem. 

Empay, designed and developed within the UAE’s Smart Government program framework, is a payment application for secure and cashless transactions. 

Right from your morning coffee to paying for your taxi ride to large business-related license renewals, Empay said it provides instant credit facilities for various payments without having to visit any bank and complete paperwork. 

Intrigued, AMEinfo conducted the following interview with Muna Al Qassab, Chief Executive Officer, Empay, to find out more. 

1- Will this app extend to non-UAE residents, like foreign businesses doing trade with UAE corporates?

No. Empay is for UAE residents only. Since the launch, the app has been receiving overwhelming responses from customers as well as partners. Empay is the beginning of a future model of shopping with easy and secure contactless payment options. We have big expansion plans over the next few months to enhance our solutions as we are seeing many more leading businesses and organizations from across diverse industry sectors becoming part of Empay.

2-On what basis is credit established via the app?  

Proper banking checks will be done prior to providing credit to any individual, as per UAE Central Bank norms and normal banking regulations. Eligibility requires residents to have an Emirates ID and a minimum of AED 10,000 monthly salary ($2,725). Buying patterns of the consumer will be mapped to understand payment behavior on a real-time basis. 

UAE residents can download the free 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. But this deal is not exclusive to Mastercard. Other payment solutions will come onboard to compete on rewards, fees, and services. 

Read: The need for contactless payment is now greater than ever

Read: The more hands-off the contactless office is, the weirder it gets

3-Will Empay use a tokenized system (Empay coin) for rewards?

Yes, P2P transfers between digital wallets amongst Empay users will be coming soon, and/or connect to blockchains where a crypto trade can happen.  The next-gen mobile solution is set to revolutionize the customer experience by enabling users to conduct their financial transactions in a simple, fast, smart, and secure way.

The app is developed as a go-to application to make flexible payments from anywhere around the world. Even when users are traveling, the multi-functional ecosystem guarantees their convenience by simplifying their transaction requirements.  

4- Will in-store purchases disappear, in your opinion?

When it comes to lifestyle transactions, consumers do have an urge to go out for an experience. This has become a key aspect of physical shopping and, hence, the appeal of physical stores would be greater than online purchases. As for functional purchases, or known brand purchases, they would continue to be online-driven.

Empay features 

Contactless Tap & Pay: Seamless contactless payments across the globe using NFC (Android) along with QR code payments after any purchase. 

Instant Line of Credit: Avail instant and paperless credit facility in minutes without having to go to a bank or fill out long forms.  

Easy & Speedy Registration Process: Registration on Empay is an interactive, easy and seamless process that can be completed in less than two minutes.

In-App Payments 

1- “Fee Payment for Dubai Economy License Renewal” from anywhere in the world without the hassle of going to a center. Empay’s business users can get their licenses renewed and availed on their mobile phones within minutes. 

2- “Seamless Utility Payments” in one place and with a simple tap, rather than paying at the start of the month through different platforms and payment centers. 

3- “Paying School Fees” in a few clicks. Empay will provide parents of partner schools alerts and reminders for their education-related payments.

4- “Ordering Food Online” is made more convenient when the best restaurants in the UAE are found on the app. Users can also view restaurant menus with updated images and price lists, track their orders and enjoy the meal any time of the day. 

5- “International Money Remittances” across the globe is a feature allowing easy transfers to any bank account worldwide, 24/7. Tracking remittances and confirmation of money receipts are added benefits to the remittance feature. 

6- “Deals & Offers” are made available to users when making online or contactless payments through this app.