The digital wallet is already listed in a number of national banks and financial institutions, allowing millions of dirhams in transactions
The Dubai's Department of Finance (DOF), in collaboration with Smart Dubai and emaratech, has launched a digital wallet to facilitate payment of government service fees.
Noqodi, which means ‘my money’ in Arabic, allows individual and corporate customers to securely pay high-volume transactions reaching up to millions of dirhams for various government and non-government fees under digital platform Dubai Pay.
It is aimed at preparing government entities to stop accepting cheques and bank transfers.
The digital wallet is listed in a number of national banks and financial institutions, allowing customers to feed it with credit from their bank accounts.
The banks include Mashreq Bank, Emirates NBD, Emirates Islamic Bank, Dubai Islamic Bank, Commercial Bank of Dubai and Abu Dhabi Commercial Bank, with more financial entities expected to be added, according to Jamal Hamed Al Marri, Executive Director of Central Accounts Sector at DOF.
Credit can also be added to the wallet through a number of exchange houses such as Al Ansari.
Noqodi’s other features include the provision of integrated solutions for payment collection, cashback, settlements and others.
It is certified with PCI DSS, one of the world’s highest certificates of cybersecurity standards, which ensures full protection for customers’ wallet data.For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.