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Emirates Bank unveils e-wallet services

Emirates Bank announced the launch of its Corporate Cash Management smartBUSINESS 'e-Wallet' service, an online payment mechanism for Corporate & Institutional clients especially for payments to e-Wallet recipients including Dubai Immigration. The e-Wallet specialized service enables a direct debit from a corporate's Emirates Bank account through the smartBUSINESS e-banking channel, to the credit of the registered e-Wallet merchant.


An e-Wallet Merchant is any organization, Government Department or corporate entity connected online and has arrangements with Emirates Bank for acquisition of e-Wallet payments on their website. The e-Wallet service has recently been activated as a mode of payment on "www.cashswitch.com" and "www.eform.ae" (Dubai Naturalization and Residency Administration-DNRD) and agreements with more organizations are in the pipeline. The list of upcoming merchants will be updated on www.smartBUSINESS.ae. The smartBUSINESS e-Wallet service is provided exclusively by Emirates Bank.


Commencing immediately, Corporate & Institutional clients can use the Emirates Bank smartBUSINESS e-Wallet service to make visa payments to the DNRD (Dubai Immigration Department) via this service, thereby ensuring operational convenience of making payments from their own office, control, security apart from getting online reports and specific transactional details.


Abdul Wahed Al Sayyah, AGM Corporate Banking, Emirates Bank said: "Keeping in mind the changing needs of corporate banking clients, Emirates Bank has combined its expertise in Trade Services along with Cash Management & Factoring Services to form the Transaction Banking Unit. This specialized unit complements & supports Corporate Banking and offers end-to-end convenient solutions. E-Wallet payments are another innovative initiative from Emirates Bank to support its clients and are in line with the Government initiatives of convenience and support to corporates operating here. Emirates Bank remains committed to the e-government vision and is always looking to introduce new products and services to support e-government initiatives.


Maninder Bhandari, Head of Transaction Banking Services, Emirates Bank said: "Corporates are increasingly looking forward for efficient cash management products and flow of financial information from banks. Emirates Bank understands and recognizes the current and future requirements of corporate customers in terms of cash management & corporate electronic banking solutions and would keep introducing innovative & customized solutions."

Emirates Bank rolled out its smartBUSINESS corporate online banking channel early this year and apart from e-wallet payments, corporate customers can do a host of payment transactions such as supplier payments, salary payments, telephone, electricity and other payments. The smartBUSINESS electronic banking channel assists the bank's corporate & institutional customers to manage their operating accounts in a cost effective and secure manner by enabling online real-time monitoring, reporting and administration of transactions.

Inquiries for the smartBUSINESS e-Wallet service including those who wish to be an e-Wallet recipient on their website can contact:


Emirates Bank
Cash Management Services
Transaction Banking Unit
Tel: 04-3974747 Extn 160 or 178
Email: smartBUSINESS@emiratesbank.ae