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UAE Exchange to launch virtual card service
February 8, 2010
ATMs, swiping machines and smart cards' things that are associated with money transactions might become redundant in the near future
thanks to a new virtual card being launched by the UAE Exchange & Financial Services, a major player in the remittance business.
In a technological innovation that might revolutionize e-commerce, broaden financial inclusion and eliminate the hassles of cash and card payment, the UAE Exchange is introducing a virtual card payment service called XPAY. The product will help customers make mobile or internet payment for utilities and merchant establishments at zero transaction cost.
Developed in-house, XPAY is a pre-paid virtual card that will eliminate many payment formalities like SMS, e-mail or swipe.
Original Posting At: EconomicTimes
In a technological innovation that might revolutionize e-commerce, broaden financial inclusion and eliminate the hassles of cash and card payment, the UAE Exchange is introducing a virtual card payment service called XPAY. The product will help customers make mobile or internet payment for utilities and merchant establishments at zero transaction cost.
Developed in-house, XPAY is a pre-paid virtual card that will eliminate many payment formalities like SMS, e-mail or swipe.
Original Posting At: EconomicTimes
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