Etisalat Group's digital financial services company chairman, Ahmed Al Awadhi, has announced that Etisalat's eWallet e-wallet system has started operating efficiently and effectively after the trial phase.
He explained that this wallet is an integrated system for electronic payment via an application on smart phones, and is the first of its kind for electronic payments approved by the Central Bank of UAE, pointing out that the application «eWallet» allows to make all payments in a smooth, fast and secure.
He added to the «Emirates Today» that the application is available to all residents of the country who have mobile phones, and a user number, indicating that the application can be downloaded for free from the stores «Google Play» and «App Store».
Financial portfolio
Al-Awadi said the application is a digital wallet available for use by individuals, businessmen and institutions from all sectors, enabling them to make payments without the need for a bank account.
He explained that the application allows to make various financial payments from anywhere in and to the UAE, such as sending and receiving remittances, payment of bills «Etisalat», or payment to service providers and products from institutions participating in the e-wallet system, such as shops, health services sector , Hotels, luxury restaurants.
Deposit funds
Al Awadhi revealed that the application allows the deposit and withdrawal of funds through more than 5000 outlets nationwide, including all Etisalat Business Centers, all other Etisalat point of sale, as well as the authorized partner outlets in the system, such as NT Payment points, And UPay, as well as a number of authorized dealers, such as UAE Exchange, Larry Exchange, and others.
Al-Awadhi said that the e-wallet or e-payment system offers a range of benefits for individual use, including depositing funds to refill the e-wallet.
He explained that the application has nothing to do with the bank account, and can be used regardless of the bank used by the customer, and does not require the availability of a cash withdrawal card or credit card.
He revealed that the portfolio also allows the business sector wide uses of the application of the system, such as payment of salaries, incentives and allowances for employees and workers, and send and receive payments to suppliers, wholesalers and partners.
Free registration
Regarding the fees received by the e-wallet to send money, Al-Awadhi said that registration in the application is free for all, and will not be the payments of most financial transactions for any fees, but some transactions are made for small amounts, such as a fee of two dirhams per transaction.
Amounts allowed
Regarding the existence of a maximum amount of funds sent at a time, Al-Awadi said that the maximum amount allowed for the portfolio depends on the way the application was registered, in the case of registration through the application without verifying the identity, the maximum account is AED 5000, a process Temporary registration is done by digitally uploading personal data.
He added that the basic method of registration is through the actual verification of personal data, by going to register at the sales outlet, in this case the maximum account is 25 thousand dirhams, a complete registration process allows the full application features.
Warranties of assurance
Ahmed Al Awadhi, Chairman of Etisalat's Digital Financial Services Company, confirmed that there are ways to enable the sender of funds to verify their arrival. He explained that a message about all transactions made to the sender and recipient is sent via text messages and e-mail. Messages via the app, as well as detailed logs, contain all transactions made in the past.