UAE Exchange to launch new remittance facility
Our Corporate Bureau
03 January 2005
The Exchange has tied up with C-Sam, led by Sam Pitroda, to launch the facility. The facility will soon be extended to other Gulf countries and India, said B R Shetty, managing director and CEO of UAE Exchange Group.
The software enables the customer to remit money from his account using a four-digit number from his mobile phone. The facility, claimed to be the first-of-its-kind in the world, could be used for money transfer, bill payments, credit and debit card payments, besides utility bill payments, Shetty added.