Colors: Orange Color

Dubai International Financial Centre (DIFC), the leading international financial hub in the Middle East, Africa and South Asia (MEASA) region and home to the largest, most developed FinTech ecosystem in the region, has signed a Memorandum of Understanding (MOU) with Jiaozi Fintech Dreamworks, one of China’s first Fintech innovation and entrepreneurship platforms.

Innovative fintech company PayBy has now partnered with uPay, extending its reach to more than 850 uPay self-serve kiosks across the UAE. This is a key development for the UAE’s underbanked – 39% of UAE adults do not have a bank account, but do have limited access to financial services such as remittances, while 15% of these lack access to any formal financial services, according to a survey by the Central Bank of the UAE[1]. With PayBy now integrated with uPay systems, users have the option to top up their digital wallets on the kiosk machines and use PayBy for e-commerce transactions, cashless payments and peer-to-peer transfers.