E& money, the fintech arm of global technology company e& group, has launched the ‘e& money card’, a digital-first card for the UAE market, aiming to promote financial inclusion and accelerate a move towards a cashless economy.
The new e& money card enables residents of the UAE to obtain a card within 10 seconds by simply logging into the e& money app. Each customer will be issued a 16-digit Mastercard branded e& money card, for payments and ATM access. There are more than 180,000 digital cards issued until now since the launch in March.
e& money explained that it aims to transform how UAE residents manage their finances and empower them to make secure transactions across the globe. It also looks to provide an exceptional user experience by integrating the e& money card with Apple Pay, Samsung and Google Wallet to provide the convenience and speed of contactless payments.
Customers can also request the physical version of their cards for free during the launch period, which they will receive within a few days.
The e& money card also offers a prepaid card loyalty programme in the UAE, providing customers with one per cent cash rewards on all card spends during the launch period until the end of 2023.
Customers can access cash rewards through the app, either by transferring them to the main wallet account as real cash or redeeming them in the unique e& money loyalty catalogue with deals including gaming and entertainment vouchers.
“Redefining the way people access and manage their finances”
Khalifa Al Shamsi, CEO of e& life, commented on the launch: “The launch of the e& money card marks a significant milestone in our mission to reshape the future of financial services in the UAE.
“By combining cutting-edge technology, seamless user experiences, and attractive benefits, such as instant digital issuance and cash rewards, we are redefining the way people access and manage their finances. Our aim is to empower individuals from all walks of life, fostering financial inclusion and enabling them to embrace the advantages of a cashless society.”
Melike Kara, CEO of e& money, also discussed the impact the new card offering could have in the UAE: “With the launch of the e& money card, we are reshaping the future of financial services in the UAE. Our goal is to empower all individuals, regardless they are banked or not, by providing instant access to a rewarding prepaid card that offers cash benefits.
“As e& money, we are proud to launch this digital-first card as the first telco-backed issuer in the UAE. The e& money card portfolio is set to revolutionise the payment landscape and digital experience of consumers.”
