The Ajman Chamber of Commerce and Industry, ACCI, has signed a Memorandum of Understanding with the Department of Economic Development in Dubai, DED-Dubai, to foster the cooperation and exchange of experiences between both sides.

The MoU was signed by Salem Al Suwaidi, Director-General of Ajman Chamber, and Ali Ibrahim, Acting Director-General of DED-Dubai, at the Chamber’s headquarters.

Through the MoU, the two sides seek to adopt the mobile payment solution, EmPay. Apart from normal merchant settlement pattern, EmPay also gives choice of distributed ledger technology (block chain) in money transfers and settlement inside the ecosystem. This helps to save a large part of the fees comparing to other payment methods.

Commenting on signing the MoU, Mr. Al Suwaidi said, "Ajman Chamber is keen to cooperate with various government and private bodies to provide services meeting aspirations of its members and the business community in an efficient work environment that translates guidance of the prudent leadership."

He also reiterated the Ajman Chamber's keenness to cooperate with all parties to develop innovated services meeting satisfaction of its members, customers and society in general, thus translating Ajman vision-2021 that is consistent with the general view of the UAE.

Mr. Ibrahim said, "Empay will set a benchmark in the region for mobile payment solutions. The product, which has been developed by mapping the common lifestyles and habits of people in the UAE, will make you experience the next level of reliability, convenience, security and speed in this era of cashless transactions."

source:Wam