Etisalat is positioning its eWallet as the Financial Super App to transform Fintech Space

e & (formerly Etisalat Group) recently announced that eWallet is undergoing a major transformation into a new fintech company called e & money.

As the fintech arm of e & life (one of the specialized business pillars of e &), e & money aims to revolutionize the customer experience through its innovative financial superapp marketplace. The announcement builds on the success that eWallet has achieved to date, and provides both UAE citizens and residents with secure, flexible and contactless payment solutions to make their daily transactions the most convenient way.

Furthermore, as the first wallet licensed by the central bank of the UAE, it enabled new growth opportunities for the telecom and financial sectors. In light of the rapidly evolving fintech industry, consumers and sellers are looking for an integrated financial marketplace or mobile-centric solution to simplify the way they execute transactions. Through rebrand, e & money develops into a comprehensive superapp that covers a number of financial needs of customers, and gives them access to financial services such as merchant payments, money transfers, bill payments, loans, investments, network-marked cards and insurance. services.

UAE citizens, residents and UAE-based businesses will benefit from e & money through an enhanced customer experience that enables them to carry out their financial transactions in a seamless, convenient and secure way, and stimulates a cashless economy. The Fintech company will open more doors to digital financial systems that will serve banking, ubank and subbank customers in the UAE.

At present, 55 percent of total cash payments are made in the UAE, making it a dominant payment option in the country. The move will not only break down barriers customers face when they gain accessfinancial services even more, but it will also support the UAE’s ambitions for continued socio – economic development and a cashless economy.