Emcredit, a subsidiary of Dubai Department of Economic Development (DED), in collaboration with payment technology providers Cardtek and NXP Semiconductors, has launched a new mobile wallet solution – empay – in the UAE.

The newly launched solution will allow users to pay for various goods and services using smart wearable technology or multi-functional devices.

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Under the partnership, Cardtek will provide the payment infrastructure, mobile industry knowledge, operational services and product enhancements, while NXP will provide the NFC controller and secure element to allow consumers to use the service on wearable devices.

With the latest payment solution, consumers can easily make retail payments, initiate money transfers, and pay for government utilities – like telecommunication and school fees – using either an active wearable or mobile device.

NXP marketing manager for secure transactions and identification business Jean-Claude Denniel said: “As co-founder of NFC technology and expert in security solutions, NXP is committed to providing secure, convenient and scalable solutions to enable tap-to-pay experiences for mobile devices and wearables alike.

“empay is a fantastic example of multi-service implementation on a wearable device platform that is easy to implement and service for the provider and most intuitive to use for the consumer.”

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Emcredit CEO Muna Al Qassab said: “Through the empay initiative, we aim to offer UAE citizens a radically improved payment experience. This turn key solution will allow empay consumers to enjoy the convenience of accessing their mobile wallet on the go – simplifying the entire payment journey with hands-free convenience.”