UAE banks unite for Mobile Wallet project

A group of nine banks in the United Arab Emirates (UAE) have formally launched the country’s new Mobile Wallet project, which is part of the wider Smart Government initiative. The UAE Banks Federation (UBF) expects the service to be available to end users next year, allowing residents to pay for over 90 government services via their mobile handset. The project also incorporates the facility for smartphones and other digital devices to be used for cashless payments in UAE retail outlets, as well as a means to store and transfer money for those such as migrant workers without traditional bank accounts, Gulf News reports. ‘The Mobile Wallet supports a critical national goal. The UAE will be potentially the first country in the world where the whole banking sector supports such a programme, which will impact everyone’s daily lives in one way or another,’ said Abdul Aziz Al Ghurair, chairman of the UBF.