UAE’s leading financial institution, Commercial Bank of Dubai (CBD) has entered into a partnership with Hello Paisa, a product of UK-based Daytona Capital Management Limited, in order to facilitate real-time cross-border transaction flows between the UAE and the rest of the world.
Hello Paisa is a world-class, cutting-edge custom-designed technology platform integrated with mobile network operator (MNOs), retailers, and banks across emerging markets to seamlessly connect to money transfer operators worldwide.
According to the statement, the partnership enables CBD customers to send money to more than 60 countries, starting with remittances to Pakistan using the CBD Mobile App or Online Banking Platform.
Dr. Bernd van Linder CEO – CBD
“With the transaction value in the UAE Digital Remittances segment projected to reach $6.32 billion in 2022, providing our clients with a safe, secure, and simple method to transfer money globally is a key priority for CBD. We are delighted to partner with Hello Paisa to enable our customers to leverage a cutting-edge, custom-designed technology platform to seamlessly transfer money in real-time to bank accounts, cash pick-up locations, and mobile wallets using the award-winning CBD Mobile App or CBD Online Banking platform.”
Mr. Sohail Nizami, Executive Director – EMEA, Prepaid & Remittances at Hello Paisa, said that, “Hello Paisa is delighted to partner with CBD and support their customers to send money to more than 60 countries, starting with remittances to Pakistan using the CBD Mobile App or Online Banking Platform.”
“We both strive to provide customers with a fast, easy, and secure payment experience. We believe this strategic partnership can lead to more innovation in the remittance service and create a hassle-free remittance journey for customers,” Mr. Nizami added.
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