Pundi X (CURRENCY: NPXS) announced on Wednesday will make its debut in the Gulf and Middle East following a partnership with fintech company, ebooc. Pundi X reported that it will work closely with ebooc on developing digital payment gateway services for governments, financial institutions and major corporates in the Gulf and Middle East as well as broader business lines such as blockchain-based customer loyalty programs and NFC contactless payment options.
The companies will also provide several other uses for consumers such as making retail payments; paying for government services, fees, and fines; utilities and bills; telecommunication bills and school fees on POS devices running a stable, digital equivalent of traditional fiat currencies in the region. Pundi revealed the move to bring its blockchain-based POS technology, XPASS card and e-wallet to the Gulf, Middle East and North Africa region for the first time with ebooc as the official partner under the terms of the strategic partnership agreement. Speaking about the partnership, Co-Founder of ebooc, Abdulla Al Shamsi, stated:
“We envisage consumers in the UAE being granted the ability to make retail payments for school fees, utilities and other necessities from a world-leading blockchain-based POS device provided by Pundi X.”
Pundi X CEO and Co-Founder, Zac Cheah, also commented:
“We are delighted by this partnership in a nation-state that has long been considered a by-word for modernity and innovation. This latest project confirms that Dubai is yet again a source of global leadership, this time in the emerging field of blockchain-based payments technology, with the potential to forever change the way consumers make secure, digital payments.”
Sunil Malhotra, Managing Director Bchain and Co-Founder of ebooc, added:
“An ebooc – Pundi X partnership will deliver a differentiated customer experience through innovative features, seamless integration, loyalty solutions, enhanced security and greater convenience to governments, businesses and consumers in Dubai, UAE and the region to make financial transactions on the NexGen platform in a smart way, bringing together various service providers under one platform. There is no better way to announce Pundi X’s arrival in the Middle East and North Africa than with a partnership with ebooc in Dubai – the region’s technology hub.”