Cryptocurrency payment in Dubai: Pundi X partners with Ebooc FinTech and emcredit.
October 10, 2018 6:39 am,
Pundi X has partnered with Dubai’s official credit bureau emcredit and Ebooc FinTech & loyalty labs to enable digital Blockchain payments at stores and for other utilities. It will enable the residents in Dubai to pay for various utilities such as paying school fees, government services or retail purchases using emcash, a digital currency launched by emcredit. The service will utilize Pundi X POS device for emcredit.
Some facts about all partners:-
Pundi X is well known for it’s a multi-Cryptocurrency point-of-sale (POS) solution provider especially for retail stores that may accept digital currencies for its transactions. Pundi X POS enables cafes, shops, and convenience stores to support Blockchain-based transactions for the average consumer. Another partner, Ebooc is the first Emirati FinTech and loyalty company based in Dubai with the mission to use emerging and new technologies to leverage their power so that consumers can benefit out of it thoroughly. Ebooc is designed to offer Blockchain based loyalty programs like NFC Card Products and Mobile Digital Wallets that helps end users realize the numerous benefits such as decentralized, a distributed ledger that creates trust thereby improving efficiency. The third partner in the partnership, emcredit is the Dubai’s first credit bureau that set up a Federal Corporation under the Ministry of Finance. It is a wholly owned subsidiary of the Dubai Department of Economic Development (DED) working with the UAE banks and financial institutions in order to support real-time data about individuals and companies.
Dubai is the world’s first city to offer Blockchain based payment solution to its residents. Secondly, this partnership brings world-leading, Blockchain-based XPOS technology into a public sector environment for the first time and is the company’s first deployment in the Middle East region. This partnership will facilitate the adoption of digital currency. Moreover, it will enable the citizens to complete essential payments swiftly. It also confirms Dubai’s status as an international tech hub.
Now, Pundi X are expected to send numerous payments devices to retail markets across various geographies like Brazil, Singapore, Africa, Korea.
From a customer point of view, Pundi X partnership will deliver a differentiated customer experience through innovative POS products and service in Dubai bringing together various service providers under one platform.