e-Dirham to be showcased at Cards and Payments ME

Abu Dhabi / Emirates Business

The e-Dirham system, created by the UAE Ministry of Finance (MoF), will be showcased at the two-day event Cards and Payments Middle East from May 31 to June 1, at the Dubai International Convention & Exhibition Centre.
With the participation at the premier smart payment exhibition, the Ministry will be highlighting the latest services made available under the e-Dirham system. First launched in 2001, e-Dirham is the initiative of the UAE federal government in the financial sector. This is an extremely secure system that is in compliance with the highest encryption standards in the world. The volume of transactions conducted through e-Dirham has been rising significantly every year, ever since the G2 (second generation) services were introduced in 2011, in partnership with the National Bank of Abu Dhabi (NBAD).
This is the 17th year of Cards and Payments Middle East, and the event has drawn 300 exhibitors from all around the world. The event will be the biggest gathering of entities in the industry of payments, smart cards and ID cards. This provides a platform for them to explore new solutions and ways of making smart payments safer, faster and more efficient. The show is a launch pad for the latest products, services and technologies in this field.
His Excellency Saeed Rashid Al Yateem, Assistant Undersecretary of Resources and Budget Sector, Ministry of Finance, said: “The UAE leads the way in the Middle East in electronic payments through smart systems and cards that provide the utmost convenience and security. Being innovative requires us to lean more towards digital technologies in processes and services, in response to consumer preferences and financial transaction trends. The MoF’s participation in Cards and Payments Middle East will be perfect opportunity to show our achievements in field of smart payment.”
Saif Ali Al Shehhi, Senior Managing Director of UAE Government Group & VVIP Clients, National Bank of Abu Dhabi, said: “We are seeing an increasing number of non-bank payment providers entering the market, such as high-tech, individual financing, exchange and remittance companies. Competition with such players requires strengthening collaboration between existing institutions such as banks, communication network operators, financial technology companies and payment service providers. This allows us to launch innovative initiatives and adapt to the developments.”