Xpress Money Collaborates to Usher in an Era of Digital Remittances in the UAE

In line with the UAE Vision 2021 of promoting Digital Commerce and Cashless Payments

July 15th 2018: Across the world, countries are moving towards a cashless society, owing to the convenience and cost-effectiveness associated with digital payments. While, digital money transfer services are developing rapidly in other parts of the world, in the UAE and other Gulf countries, a major chunk of remittance transactions is still conducted through cash. However, in the UAE, this trend is on its way to a makeover owing to the government’s initiatives towards building a digital culture in the UAE.

To aid in the transformation of the UAE into a cashless economy by promoting the evolution of digital remittances in the country, Xpress Money, one of the world’s most dependable money transfer brands, is constantly working to forge new partnerships with banks and other financial institutions to offer on-the-go remittance solutions to customers. Today, customers with bank accounts in ADCB and RAKBANK can send money through Xpress Money directly from their respective mobile banking apps. Through the company’s unique remittance platform, Xpress Money FLEX, banks and other financial institutions can easily connect with Xpress Money’s network of over 200,000 agent locations in 165 countries; and offer secure and speedy money transfers to customers.

Speaking about digital remittances in the UAE, Arundhoti Banerjee, Associate Vice President “ Strategy & Digital, Xpress Money, said, “Remittance is big business, not only in the UAE, but around the world. Adopting new technologies aimed at providing convenience to customers is imperative to staying relevant. With Xpress Money FLEX, our customizable remittance platform, banks can offer their customers a quick and secure way to send money around the world. With a simple seamless integration, banks can get access to our payout network of over 200,000 locations across 165 countries, our competitive rates and a host of payment modes. This is great for customers as they can send money directly from their bank account using the bank’s mobile or web platform. It’s a win-win for banks and customers. At Xpress Money, we have always believed in redefining convenience for our customers; and collaboration with other financial institutions is surely a prudent way to do so.

In the UAE, Xpress Money first entered the digital remittance space with a collaboration with Abu Dhabi Commercial Bank by offering money transfers to 14 countries on the ADCB Online and Mobile Banking App. Additionally, Xpress Money recently announced a partnership with RAKBANK, in June 2018, that allows RAKBANK account holders to send money via Xpress Money using RAKBANK Account or Credit Card.

“Banks in the UAE are the most trusted financial institutions; and collaborating with leading banks in the region helped us get access to customers who were already comfortable with digital payments. What we bring is a wide network of partners in every corner of the world, which enables banks to reach new markets and add more value to their customers added, Arundhoti.

While Xpress Money’s partnership with banks in the UAE allows customers to send money to various countries, the company also offers convenient remittance solutions for transactions sent from a non-bank location. With Bank account credits, mobile wallets, and instant cash transfers available at over 200,000 locations around the world, even in the most remote corners; Xpress Money is reaching the banked and the unbanked population across continents.

About ‘Xpress Money’:

Incorporated in 1999, 'Xpress Money' is a global money transfer brand with a thriving presence in more than 170 countries across the globe through partnerships that have a network of over 200,000 locations. It is one of the most dependable and renowned international money transfer brands across the globe. 'Xpress Money' provides customers convenient, simple and secure ways to transfer money across geographies. Its widespread network is strengthened by collaborations with renowned organizations that include international money transfer operators (IMTOs), banking as well as non-banking institutions, retail chains, online remittance players and fintech companies. Xpress Money's state of the art compliance and security policies ensure customers a secure and hassle-free money transfer process.

Xpress Money is part of Finablr, a global platform for Payments and Foreign Exchange solutions. With deep regulatory know-how, technology expertise and industry leading partnerships, Finablr companies provide a broad array of tailored and trusted financial solutions for consumers and businesses. With a global reach spanning 170+ countries, Finablr companies processed over 150 million transactions in 2018, managing nearly USD 115 billion for customers.

For more information, follow us on Facebook: www.facebook.com/XpressMoney, Twitter: @Xpress_Money LinkedIn: https://www.linkedin.com/company/xpress-money-services-ltd/ or visit www.xpressmoney.com

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