May 16, 2020

Dubai Department of Finance launches digital wallet designed to pay government fees

Department of Finance
Jamal Hamed Al Marri
Dubai Pay
Digital Wallet
Amber Donovan-Stevens
2 min
 The new digital wallet, ‘noqodi’ will ease the of payment individual and corporate government fees.
Dubai’s Department of Finance (DOF) has launched a new payment channel with Smart Dubai and emaratech. The digital wallet, ‘noqodi’ will allow cit...

Dubai’s Department of Finance (DOF) has launched a new payment channel with Smart Dubai and emaratech. The digital wallet, ‘noqodi’ will allow citizens to pay government service fees under Dubai Pay. Abdulrahman Saleh Al Saleh, DOF director general is keen to improve government customer satisfaction through the use of the secure noqodi e-wallet and its accessible interface.

Jamal Hamed Al Marri, executive director of Central Accounts Sector at DOF, said: "The launch of noqodi comes in the context of the continuous efforts of the Government of Dubai to facilitate payments of government transactions. The new digital wallet is characterised by enabling high-volume transactions, which could reach up to millions of dirhams. This prepares government entities to stop accepting cheques and bank transfers.’

The noqodi option can be accessed through Dubai Pay gateway, and the Dubai Now smart application. Credit can be applied to the account through major banks such as Mashreq Bank, Emirates NBD, Emirates Islamic Bank, Dubai Islamic Bank, Commercial Bank of Dubai and Abu Dhabi Commercial Bank. Exchange Houses such as Al Ansari are also available to add credit, though DOF is working to expand the number of banks and Exchange Houses available to provide this service.

SEE ALSO:

Hamed Al Marri continued: "We have listed in a number of national banks and financial institutions that allow customers to feed the wallet with credit from their bank accounts, and we will include other financial entities in our list to enable a wider stake of customers to benefit from the digital wallet."

Wesam Lootah, CEO, Smart Dubai Government Establishment, said: "Through the consolidated efforts with its strategic partners, Smart Dubai is keen to improve the quality of government services offered to residents and visitors, in order to deploy innovative technologies to achieve greater efficiency in customer service, which, in turn, will contribute to making Dubai the happiest and smartest city in the world."

Share article

Jun 17, 2021

Tink partners with Novalnet AG for open banking payments

novelnet
Tink
Fintech
Digitalpayments
2 min
Novalnet AG will collaborate with Tink for the fintech’s payment initiation services

The Munich-based fintech Novalnet AG, which was founded in 2007 and is one of Europe’s leadingfintech companies, has announced a new partnership with Tink, the Swedish open banking platform currently connected to more than 3,400 European banks.

Novalnet AG delivers payment solutions and fully automated services, from checkout to debt collection. Its solutions are also available worldwide. 

According to reports, the fintech company plans to launch a real-time payments feature for merchants across Europe, to expand its current services and enhance the transaction experience it operates through its platform. 

The new feature, says Novalnet, will revolutionise payments for ecommerce with transactions being credited to merchant’s accounts almost instantly. 

Novalnet partnership with Tink

By partnering with Tink for payment initiation services (PIS) technology, Novalnet will take previous region-specific payment methods and offer a new unified digital payments service to its merchants across Europe. 

The fintech’s real-time merchant payments feature, which will be launched initially in Germany and the United Kingdom, will then be integrated across other European markets during 2021. 

Speaking about the new collaboration, Emmanuel Kirse, COO of Novalnet, explained, "We expect great things from our strategic partnership with Tink, which is a significant development for both parties. 

“With Tink, Novalnet can offer a new set of open banking-related solutions in Europe. The new opportunities offered by this partnership will help both Tink and Novalnet grow together, along with our merchants." 

Cyrosch Kalateh, Regional Director for the DACH region at Tink said, “Our partnership with Novalnet is a big step for Tink in the German market, and we are excited to work together to bring new, innovative payments services to merchants across Europe.”

He added, “At the end of 2020 Tink committed to expanding its payment initiation services from five to 10 markets, fuelled by an €85mn investment round. We are proud to add Germany to this list by announcing we have now fully launched Tink’s PIS services in this market.”

Image credit: Novalnet AG

Share article