In a move it says is set to “boost the transition towards a cashless economy and support the national digitalisation agenda”, UAE operator du has announced the launch of du Pay, offering what it calls transformative fintech solutions for UAE residents.
Licensed by the Central Bank of the UAE, du Pay simplifies financial transactions with an app in six languages: Arabic, English, Hindi, Bangla, Malayalam and Tamil.
du Pay offers a diverse suite of digital financial services and payment services, from international money transfers and peer-to-peer (P2P) transfers to mobile top-ups and bill payments. Additionally, it supports salary deposits through an IBAN, serving as a versatile account for users.
Specifically, users can send money to over 200 countries at competitive rates. At the same time, the platform enables users to transfer funds to any mobile number in the UAE with ease. The IBAN offering allows users to receive funds, including salaries (notably for domestic workers), directly within the du Pay app.
Adding funds is made easy, the operator says, via debit cards, bank accounts, or an extensive payment machine network across the UAE. In addition, a cardless cash withdrawals offering ensures customers can withdraw cash without the need for physical cards from selected ATMs in the UAE. The app also simplifies bill payments and mobile recharges, while a payment card facilitates seamless online and offline transactions globally.
Market projections, du points out, suggest the digital payment sector will reach US$3.3 trillion in payment services by 2031, positioning du Pay to capture significant market share in the growing digital economy.
As for du’s home market, there is said to be an impressive US$39.7 billion in outward international money transfer volumes from the UAE, and du says its du Pay offering is positioned to tap into this extensive market by providing services that prioritise simplicity and a customer-centric experience.
