The memorandum of understanding (MoU) enables customers of Dubai Economy to access an instant credit facility and complete licensing transactions within five minutes
Dubai Economy's agreement with the Emirates Payment Services (Empay) enables payment relating to commercial license through the Empay smart application; the world's first contactless instant credit lifestyle payment ecosystem. The agreement will allow Dubai Economy's customer base to have an instant credit facility and undertake licensing transactions within five minutes.
Users registered on Empay can scan their Emirates ID on the app, which generates a digital card with an instant credit balance within two minutes. The digital card, powered by Mastercard, will enable smooth, fast, and secure payments through the app, which is available from the Google Play Store and App Store.
Empay was launched as part of Dubai Economy's mission to enhance the cashless ecosystem across Dubai and provide an efficient digital solution for transactions while consolidating the efforts of relevant government agencies towards accelerating Dubai's transition to a cashless society. The application will also contribute to the Dubai Paperless Strategy, which aims to use advance technology to build an integrated system for paperless government work.
