According to a press release, the platform will be applied at all point of sale (POS) terminals across the country managed by Network International, a payment solutions provider in the Middle East and Africa.
Backed by the Smart Dubai Government Establishment (SDG), Quisk plans to launch its platform to banks later this year.
“Launching the trial version of this new generation of smart payment solutions allows us to add another dimension to the smart payment experience,” said His Excellency Wesam Lootah, CEO of SDG. “One of the key features setting this platform apart from other similar products is its unprecedented flexibility: Users are free to use any device to avail the service. This path-breaking development opens the door for an entirely new concept of smart banking transactions.”
Quisk is able to integrate with the core banking platform of any UAE bank, and instead of using card or bank account numbers, the system uses customers’ phone numbers and secured PINs so even those without a bank account can manage, pay or save money. The technology can be used by any phone to complete retail purchases, pay bills, make ATM withdrawals and conduct individual remittances.
“The new payment system will help millions of financial account holders in the Middle East and Africa region in general – and the Gulf region, in particular,” said Samer Soliman, managing director of group acquiring at Network International. “Our goal is not only to consolidate the culture of digital money but to facilitate payments and all other payment services as well. While it will help the financial system be more integrated, Quisk will also provide new, convenient and secure ways for conducting transactions.”