e&, formerly Etisalat Group, has announced that its digital payment service eWallet has now transformed into a new fintech company called e& money.
e& money aims to revolutionise the customer experience through its innovative financial super app marketplace.
The fintech company will be a part of e& life, one of the specialist business pillars of e&.
As the first wallet licenced by the Central Bank in the UAE, e& money will aim to enable new growth opportunities for the telecom and financial services sectors.
Through the rebrand, e& money is evolving to become a comprehensive super app that addresses a variety of financial needs of customers, giving them access to financial services such as merchant payments, money remittances, bill payments, lending, investments, network branded cards and insurance services.
“Our fintech company, e& money, demonstrates our commitment to advancing digital fintech solutions that make a difference, delivering an innovative end-to-end financial marketplace that meets all of our customers’ financial needs as we push beyond the realms of traditional services,” said Khalifa Al Shamsi, CEO, e& life.
He added that with the evolving financial ecosystem, e& money will set a precedent for embracing the imminent cashless economy by capitalising on e&’s brand value and our strong customer base in the UAE and the other operating markets.
“We also welcome strategic partnerships with start-ups and technology players in the fintech space to bring best-in-class technologies and innovative solutions such as AI-based platforms, credit scoring algorithms, and advanced analytics platforms that will benefit our customers and address the growing demand for a financial super app marketplace,” he said.
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UAE citizens, residents, and UAE-based businesses will benefit from e& money through an enhanced customer experience that enables them to do their financial transactions in a seamless, convenient and secure way, spurring a cashless economy.
According to e&, the fintech company will open more doors to digital financial systems that will serve banked, unbanked and under-banked customers in the UAE.
