Etisalat launches trial of mobile remittance service

Etisalat is set to launch its mobile money transfer service and is testing the system using thousands of its own workforce, it was reported on Wednesday.

As part of the pilot project, Etisalat will test the facility through 4,000 Indian nationals on its payroll for money transfer to India, Rashed Majed Al Abbar, director of Etisalat Mobile Commerce, told UAE daily Emirates Business.

"There are a few aspects to be taken care of before launching it commercially this year. There was a small beta group within Etisalat testing the service and now we want to have a soft launch for all our employees," he told the paper.

The service will enable users to send remittances to their home country via mobile wallet applications that enable customers to use their mobile phones to transfer cash to other mobile wallet accounts, the paper reported.

Etisalat has teamed up with Citibank for the mobile money transfer service.

Market research by Etisalat has revealed an annual remittance of $7bn by expatriates in the country. The UAE ranks only third after the US and Saudi Arabia in remittances.

"The beneficiaries in the home country just have to register with any mobile wallet service and there is no need for a bank account. There is a large unbanked population that will benefit from such services," Abbar said.