Noor Bank, UB QFPay team up on mobile wallet acceptance in UAE

KUALA LUMPUR: Dubai's Noor Bank has announced its collaboration with UB QFPay to bring a new and innovative mobile payment solution to the United Arab Emirates (UAE).
The solution, the first of its kind in the region, will enable tourists, as well as foreign visitors to make payments at retail outlets in the UAE using multiple international mobile wallets from various markets, UB QFPay said in a statement.
UB QFPay is a joint-venture between Dubai's United Brands (UBPAY) and China's QFPay.
Under the collaboration, Noor Bank will handle all transaction settlements for the solution.
As part of the initiative, UB QFPay allows retail outlets within the UAE to accept secure payments from tourists who wish to pay for their purchases from their preferred mobile wallets.
UBPAY is currently live at a number of retailers in the UAE that are frequented by Chinese tourists.
Speaking about the partnership, Noor Bank Chief Executive Officer John Iossifidis described the new payment solution as an innovative and ground-breaking service which would enable overseas visitors to use international mobile wallets for the purchase of goods and services in the UAE for the first time.
On his part, UB QFPay Managing Director Ahmed Alrafi said UB QFPay would make retailers in the UAE China ready by allowing Chinese tourists to pay with their preferred mode of payment.
"This will only be a start for us, as we will add acceptance of more wallets to pay UB QFPay in the coming months," he said. — Bernama