On October 8, Emredit, Dubai’s government official bureau, has partnered with cryptocurrency-payments provider PundiX to facilitate crypto payments in the country and making cryptocurrency and blockchain technology as a widespread means of payment. It aimed at the public sector which comprises mostly locals, immigrants and global expats.
Pundi X is a cryptocurrency POS (point-to-sale) solutions provider. It enables shops, cafes and stores to facilitate the transaction of cryptocurrency for average consumers. Not just this but the solution also supports for credit & debit card payments and cryptocurrency transactions. The payments are processed by EMCASH – cryptocurrency floated by Emcredit and are regulated by Economic development department of Dubai.
In Gulf and the Middle East, Pundi X and Ebooc decided to work on digital payment gateway services for government, financial institutions and corporates. This partnership will help natives in Dubai to use digital currency in stores, government utilities, school fees via EMCASH. Later this year, for testing and approvals, Pundi X plans to submit project to the government.
Zac Cheah, CEO at Pundi X, stated that such projects confirm a thing that Dubai is a center of global leadership and changing the way consumers make digital payments by enhancement in the blockchain based payments system. He further said that bringing such payment technology into the government is technology’s major development.
Sunil Malhotra, the Co-founder of Ebooc, said that with the innovation of Point-to-scale products and customers’ service in Dubai, the partnership can result into a different customer experience, bringing all service providers under single platform. As per his words, 100,000 devices are to be launched in coming three years and he believes that there’s no better way to announce Pundi X’s arrival in the Middle East and North of Africa than with a collaboration with Ebooc in the region’s technology hub – Dubai.
More details are yet to come public after numerous testing and approvals granted by the government of Dubai before the year 2019 begins.