In the nearest future citizens of Dubai will be able to pay for bills, school fees and for utilities with emCash, a cryptocurrency launched by emcredit, the Dubai’s first credit bureau. emCash will be equivalent to UAE dirham (AED).
Such payments will become a reality thanks to a partnership between Pundi X (a multi-cryptocurrency point-of-sale (“POS”) solutions provider), ebooc Fintech & Loyalty Labs (the first Emirati fintech and loyalty company in Dubai) and emcredit.
Payments will be made via a Pundi X POS device.
According to the Pundi X (NPXS) team, further details of the partnership will be announced following the development, testing and approval of the technology by government regulators later this financial year.
On August 19, the Pundi X team announced that one thousand Pundi X POS devices will be progressively rolled out across Colombia over six months to specialist, general retailers, and hospitality businesses.