The Bankwatch

Tracking the consumer evolution of financial services

For Low income Un-banked | Emirates Bank to Launch Global Remittance Services through SMS Technology and Salary Cards

Mobile payments around the world continue to evolve more rapidly than North American or European Banks, with a few exceptions, are adapting to.

This example, form Emirates Bank in Dubai, is aimed at unbanked in the Middle East is a classic example. It is provided by a North American company.

Emirates Bank Group

In a pioneering effort to provide financial services to the thousands of un-banked people across UAE, Emirates Bank has signed an agreement with Infospan Inc, a California based technology company, to launch a unique global service that will enable users to send and receive money instantly around the world. Emirates Bank is planning to reach-out to a large, underserved and fast growing market offering competitive rates. The service will be available through a variety of channels including SMS, call centers, and ATMs.

Note the multi channel delivery including ATM’s.

Written by Colin Henderson

July 17, 2007 at 12:17

2 Responses

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  1. I brought up the salary card idea at a meeting today. The guy on the other side of the desk whipped out his calculator and figured out how neat it would be to put the paycheques onto cards – he could keep the money until the employee actually spent it….Lots of (disruptive) possibilities here…

    Mark McAlister

    July 18, 2007 at 12:52

  2. @Mark … Thats fantastic ….!! Anything to move the needle …

    Colin

    July 18, 2007 at 21:23


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