Noor Bank Enables New Mobile Payment Solution for Emaar in the UAE

Press release
Published May 30th, 2018 - 06:35 GMT
John Iossifidis, Chief Executive Officer, Noor Bank , Ahmad Al Matrooshi, Managing Director of Emaar Properties
John Iossifidis, Chief Executive Officer, Noor Bank , Ahmad Al Matrooshi, Managing Director of Emaar Properties

Noor Bank, a leading Shari’a compliant Bank in the UAE, announced today a new mobile payment solution for Emaar. As part of this roll-out, various iconic attractions of Emaar such as At the Top Burj Khalifa, Dubai Aquarium & Underwater Zoo, VR Park and Dubai Ice Rink, can now accept seamless mobile payments from Chinese visitors using China’s popular Alipay wallet.

Noor Bank will handle all transaction settlements in collaboration with UB QFPay as a technical partner, a joint venture between Dubai-based United Brands and China-based QFPay.

John Iossifidis, Chief Executive Officer, Noor Bank, said, “We are pleased to deepen our relationship with Emaar by offering another value-added solution, which is seamless, safe and secure. The solution not only benefits Emaar’s businesses but also many other luxury fashion brands, restaurants, entertainment venues, and hospitality outlets operating at key Emaar locations such as The Dubai Mall. Their trust in us serves as a testimony to our strategic focus in delivering outstanding customer experience through digital transformation.”

Ahmad Al Matrooshi, Managing Director of Emaar Properties, said: “We are constantly looking at innovative solutions that further enhance the customer experience. The partnership with Noor Bank for mobile payments using Alipay will add to the convenience of visitors from China. With the number of Chinese tourists increasing year-on-year and Emaar’s attractions being most sought-after by them, this will create significant value for them.”

Patrick Ngan, Co-founder and President, QFPay said, “QFPay has served over 1 million merchants in China and other markets. Under the partnership with Noor Bank, UB QFPay has successfully enabled Alipay in UAE and looks forward to bringing in many more international wallets through our tested technology and global experience. UB QFPay offers extensive on-the-ground services and technical support that will greatly help merchants in UAE.”

Background Information

Noor Bank

Noor Bank (formerly Noor Islamic Bank) was established in January 2008, in Dubai - United Arab Emirates.

Among the youngest banks in the country, Noor Bank has achieved significant growth in the past 10 years. Today, in 2018, as we continue to grow, we are ranked the 11th largest bank in the UAE in terms of asset size.

Noor Bank is a full-service Shari’a-compliant bank, offering a comprehensive range of products and services - in corporate and personal banking, wealth management, Takaful (Islamic insurance), treasury and trading. We have a presence across the country, at multiple locations in Abu Dhabi, Dubai, Sharjah and Al Ain.

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