MoneyGram partners with Digital Financial Services to offer eWallet services in UAE

By Edil Corneille

MoneyGram International has partnered with Digital Financial Services, a joint venture of Etisalat and Noor Bank, which was acquired earlier this year by the Dubai Islamic Bank. The collaboration benefits customers of eWallet, which is a brand owned by Digital Financial Services, where cross-border money transfers in real-time to over 200 countries and territories can be made. This can be done due to the expansive network of mobile wallet operators, bank account deposit services, and walk-in locations.

“Etisalat, like MoneyGram, has digitized its business to adapt to the increasingly tech-savvy lifestyles of its customers in the UAE,” Grant Lines, Chief Revenue Officer at MoneyGram mentioned. “We’re excited about how this partnership builds upon our strong momentum in the Middle East market and further accelerates digital growth as we expand our customer-centric capabilities to the third largest outbound remittance country in the world.”

eWallet is regulated and licensed by the Central Bank of the UAE. It is a digital payment service aimed at empowering UAE residents with safe, convenient and flexible payment solutions through an easy-to-use eWallet mobile app.

Ahmed Al Awadi, Chairman of Digital Financial Services stated, “eWallet continues to be an innovative solution that enhances the way UAE residents conduct financial transactions today. Our partnership with MoneyGram will further enrich our customers’ lives with a state-of-the-art user experience which MoneyGram is renowned for and will boost our future expansion plans.”

eWallet does not require customers to have a bank account, credit or debit card to conduct digital payments. Customers only need a valid Emirates ID and a UAE mobile number to open an account. Once registered, users can instantly top-up their wallet balance to start sending and receiving money, transferring to bank accounts, conducting merchant payments, or paying bills.