In October 2011 I wrote a Mobile Money Market Brief on UAE for the Clarion MMT Gateway. There are key remittance corridors out of UAE, for example to India. Prepaid card services are providing new ways for migrants to manage money, in UAE and when sending money home.
Some of my key observations then were that:
- Mobile payments is promoted by Government initiatives such as identity cards and mPay
- The Wage Protection Scheme triggered a wave of prepaid cards which provide a perfect partner for mobile money
- With key segments, expatriates and youth set to benefit from new services, we should expect to see MFS take off in UAE
Over the next few months I expect to post updates on the Mobile Money scene in UAE, and talk about developments and services launched by the different players.
You can read the original Mobile Money Market Brief by downloading our whitepaper or at the Clarion Mobile Money Transfer Gateway