DED arm, ebooc to launch next-gen payment platform

DUBAI / WAM

Emcredit, a subsidiary of the Department of Economic Development (DED) in Dubai, and ebooc, has signed a memorandum of understanding (MoU) to launch a next-generation digital payment Point of Sale (POS) platform for Dubai. The MoU was signed by Ali Ibrahim, Deputy Director General of DED and Managing Director of emcredit Limited, and Muna Al Qassab, CEO of emcredit Limited, with Abdalla Al Shamsi, CEO Digital Force PRO and Co-founder of ebooc, and Sunil Malhotra, Co-founder of ebooc and MD of Bchain.
“We are delighted to create a strategic partnership with ebooc as it’s one the first Emirati Fintech company using NexGen technology to offer and integrate innovative POS solutions exclusively across the retail merchant network in Dubai, UAE,” Ali Ibrahim said.
“Through the collaboration, consumers in the UAE will be able to make retail payments in-store, pay for government utilities, telecommunication, and school fees, among many other options, from a single POS machine.”
Under the MoU, ebooc, which is an Arabic word for e-wallet, will provide advanced NexGen POS system with bespoke functionality built exclusively for emcredit’s next generation POS payment
solution across sectors.