GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >>

 
  Share
  • First global money transfer business in Middle East to offer real-time, seamless payment solutions by using blockchain technology 
Dubai, 10 February 2018:   UAE Exchange, a leading global money transfer, foreign exchange and payment solutions brand, announced it has partnered with San Francisco-based Ripple to enable instant, seamless and real-time cross-border payments. This makes UAE Exchange the largest payment solutions provider in the Middle East to use Ripple's blockchain technology to process payments globally in real time.
 
Through this partnership, UAE Exchange joins RippleNet, Ripple's enterprise blockchain network with over 100-member banks and financial institutions. Leveraging the strengths of Ripple's leading enterprise blockchain solution for payments, which provides real-time messaging, clearing and settlement of financial transactions for global banking and payment partners, UAE Exchange will be able to offer an enhanced innovative payments experience for customers, including competitive rates, speed, transparency and efficiency. 
 
Promoth Manghat, Chief Executive Officer of UAE Exchange Group, said: “Our growth strategy has always been, and continues to be, driven by our customer-centric approach. Incorporating Ripple's blockchain technology into our payments systems will bring customers an enhanced, new payments experience.” He added, “The early adoption of this game-changing technology allows us to offer a competitive service, as it will have an impact on the speed and cost of cross-border transactions. We are proud to deliver the future of payments with Ripple.”
 
Dilip Rao, Global Head, Infrastructure Innovation, Ripple, said: “We chose to focus on solving inefficiencies in key corridors where payment flows are significant and growing. Adding a market leader like UAE Exchange to RippleNet will bring instant, certain, low-cost payments to the millions of retail customers in the UAE who send money abroad.”
 
With multiple investments in various fintech and digital payments companies, UAE Exchange is focused on collaborating with technology specialists, start-ups, industry partners and the academia to seek out opportunities that deliver seamless and positive customer experiences through the brand's portfolio of digital assets and services. 



Posted by : GoDubai Editorial Team
Viewed 13798 times
Posted on : Saturday, February 10, 2018  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : Voting for Superbrands 2018 has commenced
Next Story : DowDuPont Reports Fourth Quarter and Full Year 2017 Results
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
Mouawad Acquires The 51.38 Carat Dynasty Diamond From ALROSA
Introducing the GUESS Jeans Fall 2018 Collection
Cerruti 1881 MOLVENO timepiece and cufflinks
Build Your Perfect Skincare Routine with Essentials from Glambeaute.com
Hour Choice presents Coach Astor Collection
Nazih Introduces New Dr. Renaud Skincare Range
Carl F. Bucherer Presents Adamavi Collection
Business Wear by Hugo Boss
Head to Modhesh World for Summer Fun Before the School Run
Five Awesome Reasons to Visit LEGOLAND® Dubai During the Eid Al Adha Holiday
The new Rado HyperChrome Chronograph in bronze and high-tech ceramic
Back-to-School Shopping Made Easy with SOUQ.com
Never Run Out of Space for Those Joyful Summer Holiday Memories With Western Digital
Spectacular live entertainment for the entire family at Majid Al Futtaim malls i...
Eid Gift Guide 2018
The Marriott International cyclist team completes 600km R2A cycle challenge
New Addition to the HUAWEI Nova 3 Series: On-trend and fashionable HUAWEI nova 3...
Eberhard & Co. immortalizes a legend
Trend Alert! Clueless About Plaid? kate spade Found Fresh Ways to Showcase the G...
Calligraphy, etching and Palestinian embroidery: Learn it all at Tashkeel this S...
The Moon Collection From Lacoste
OMEGA Showcases its Passion for Golf at the 2018 PGA Championship
‘The Little Things' That Makes Summer All The More Enjoyable
Big Android Breakthrough: Huawei's power packed GPU Turbo upgrade will turn you...
XTouch Announces the Launch of the Robot Family Range of Rugged Mobile Phones
American Eagle Takes It to the Ne(X)t Level With Fall Jeans Campaign
du LaLiga HPC Top Talents Arrive in Spain for 21-day Annual Scouting Camp
Let your kids enjoy some dancing at James & Alex Dance Studios
FREE DANCE WEEK is back at James & Alex Dance Studios
The new Hamilton Khaki Field Mechanical
Why Are Chipmakers Making Smaller and Smaller Processors?
VIP Golf Austin Offers Golf Packages For the Avid Tourist
Raymond Weil unveils a new collaboration with Marshall Amplification
Chronoswiss Limited Edition of Flying Grand Regulator Skeleton
Eyesight restored in a rare case of Optic Neuritis
Aperitivo di Ferragosto
Dubai Tourism Publishes ‘12 Steps Towards Sustainability' Manual to Guide Hotels...
LG to Introduce Advanced Stylers With Ai Voice Recognition and Mirrored Glass De...
Samsung Launches the Galaxy Note9 in the UAE
Free Wellness Workshop to address Physical and Mental health issues
Aster Disaster Support Team mobilized to help Kerala flood victims
Department of Culture and Tourism – Abu Dhabi brings excitement to children at S...
Mohamed Bin Zayed Majlis for Future Generations Announces its Second Edition
Carried out by Kalimat Foundation for Children's Empowerment
Freight Growth Slowdown Continues In June
DXC Technology and Amazon Web Services (AWS) Collaborate to Modernize IT Service...
RERA Partners with CBD to Offer Escrow Services for Owners' Association
Secondary Infertility: A Confusing & Emotional Ride Affecting Millions of Women
Turkish Airlines posted USD 258 million Operating Net Profit in the first half o...
Baroncelli Big Date collection from Mido