UAE Exchange Ltd has introduced a user-friendly mobile app, XPay Wallet.

V George Antony, Managing Director, UAE Exchange, has described the app launch as one step forward for the company in reaching towards a digital economy. He urged the public to download the app for making their payments and receipts, as it is a virtual modern card payment service.

The mobile app featuring QR code will functions in lieu of cash. It can be downloaded freely from Google play store or from www.uaeexchangeindia.com.

The company, a major player in the remittance business, has been licensed by RBI for issuing digital wallets. According to him, digital wallets have outgrown credit/debit cards usage in India last year, with more than 125 million users. The facility has ushered in a new era for payments, given the risk of carrying cash in the wake of theft or loss.

XPay Wallet, the real time payment platform, will provide faster, easier and prompt service. People can transfer money to another person’s wallet and to shops free-of-charge round the clock. They can transfer money from their bank account to XPay Wallet and from wallet to bank account for a fee.

They can also preload money in XPay Wallet either from any of the company’s branches or through net banking or through credit/debit cards or from registered shops. Services like mobile recharge, utility bill payments, online shopping, online ticket booking etc can be made through this e-wallet system, he added.

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