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Paymentology And Wio Bank Hope To Transform UAE Banking
Paymentology’s card issuing and analytics will support Wio Bank’s next-generation services.
Paymentology, the world’s first truly global in-cloud card issuing platform, has joined forces with Wio Bank, the UAE’s first platform bank, in a bid to empower local businesses and consumers with modern digital banking solutions.
Wio Bank, launched in September 2022, is focused exclusively on digital and embedded banking services and applications and provides startups, freelancers, and small businesses with seamless access to banking solutions. The company’s Wio Business offering provides a simplified, fully digital business account service with supplementary tools that aid business management.
Wio Bank’s new partner, Paymentology, completes the digital banking puzzle by facilitating a wide range of card services, including Visa debit cards, plus Apple and Google Pay. The cloud-based card issuer also enables Wio developers to view a real-time data feed, providing detailed customer spending insights to help the bank tailor its solutions to the exact needs of local businesses.
UAE businesses have historically relied on brick-and-mortar branches to open accounts and make transactions. With their newly announced partnership, Wio and Paymentology are promising “fast, simplified and fully digital financial services” for small-to-medium businesses in the region.
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“The UAE is at the forefront of innovation in digital financial services, making huge strides toward becoming a cashless society in the not-too-distant future. We’re incredibly proud of the role we are playing in supporting fintechs achieve their ambitions in the region with increasingly localized, customer-centric, and data-driven propositions,” says Rowan Brewer, CEO at Paymentology.
The latest announcement from Paymentology and Wio Bank comes as the UAE’s financial services sector undergoes a rapid transformation. Consumer demand for digital products and services is on the rise, with research by Visa revealing that 52% of Emirates consumers plan to go cashless by 2024, compared to 41% globally.
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Joby To Establish All-Electric Air Taxi Ecosystem Across The UAE
The comprehensive agreement with Abu Dhabi’s government includes a training program, infrastructure development, and a manufacturing presence.
All-electric aircraft company Joby Aviation has secured three separate agreements with departments of Abu Dhabi’s government that lay the groundwork to develop and scale air taxi services in the Emirate and beyond.
The deal was signed at the recent DRIFTx thought-leadership and exhibition platform and gave Joby exclusive rights to not only operate air taxi services in Dubai but also unlock inter-emirate services between Abu Dhabi.
Joe Ben Bevirt, founder and CEO of Joby Aviation, said: “Today’s agreement demonstrates the incredible momentum behind the adoption of clean flight across the UAE. We’re looking forward to delivering a fantastic experience for our future customers in Abu Dhabi and we’re excited to be unlocking the potential for zero-emissions flight between Abu Dhabi and Dubai. We’re grateful for the support and collaboration of our governmental partners and the entire ecosystem in Abu Dhabi and we remain deeply impressed by their commitment to building out a world-class aviation ecosystem in the Emirate”.
Joby’s all-electric aircraft went on display for the first time in Abu Dhabi’s Yas Marina at the DRIFTx event. The air taxi is designed to carry a pilot and four passengers and can reach speeds of 200 miles per hour (321 km/h). The zero-emission craft is said to have an extremely low acoustic footprint and can travel a maximum of 100 miles (161 km) on a single charge.
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Once operational, Joby’s air taxi fleet would enable fast, clean travel across the UAE, with journeys between Abu Dhabi to Dubai taking just 30 minutes compared with two hours by car during peak times.
Joby continues to work closely with the UAE’s General Civil Aviation Authority (GCAA) to help the Emirates become a world leader in the introduction of air taxis. Additional testing and analysis will be required before inter-emirate travel becomes a reality, but the cutting-edge technology already appears to have great potential.
Joby To Establish All-Electric Air Taxi Ecosystem Across The UAE
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