Major Step Taken Towards Making UAE Cashless Society







  • “klip” app to drive usage of the mobile wallet

  • Preview at GITEX 2017

  • New website launched


Dubai, 4 October 2017: Emirates Digital Wallet, a unique platform established by 16 of the UAE’s leading banks, has announced the name of the app that will help to replace physical cash in the pockets of UAE residents.

klip has been vigorously market tested across a wide cross section of UAE society over a period of months and has gained strong levels of acceptance and popularity among banked and unbanked respondents alike.

klip paves the way for cashless spending, transfer and storage of money for everyone living and working in the UAE. It brings together best practice from a wide variety of payment systems around the world, but is the only solution tuned in to the needs and characteristics of the UAE’s local environment, which aims to replace cash in the day-to-day economy. It uniquely combines the adaptability and utility of smartphones with the familiarity of using cash in everyday purchases and payments.

In particular, klip will enable those who do not have bank accounts to benefit from the greater security of digital cash over physical cash, but with even more benefits.

Maki Vekinis, General Manager of the Emirates Digital Wallet


Maki Vekinis, General Manager of the Emirates Digital Wallet, says: “There is a new cashless payment system launched almost every week somewhere in the world, but none of them seriously aim to remove the use of cash throughout the economy, none of them have the buy-in of the leading national banks, and none have the strong backing of government.

“Quite apart from the greater security that removing cash from the economy brings to everyone, it will also put the UAE head and shoulders above any others in terms of the sheer ambition and determination to do so. This is not a new payments solution.  It is a movement to create a cashless society where everyone wins - consumers at all levels, small and large businesses, banks, as well as the government. As a brand, klip promises to change everybody’s daily lives.”

The Chairman of the UAE Banks Federation, HE Abdulaziz Al Ghurair, said, “The launch of Emirates Digital Wallet is a continuation of the on-going tradition of banking innovation, and has the potential to introduce a society-wide cash transformation to digital. It will provide a strong boost to the UAE’s effort to build an inclusive digital payments ecosystem that will benefit all stakeholders including consumers, businesses and banks, and set the path for the country’s transition to a cashless future”.

klip will be demonstrated at the upcoming GITEX conference and exhibition, at the Emirates Digital Wallet stand.  Visitors will be able to try the app out on smartphones in typical scenarios such as food shopping, taxi rides, and payment of utilities. In addition, shop owners will be able to experience how klip enables them to receive payment instantly and to pay for new stock from suppliers.

A new website has been launched, at, which provides an audio and visual step by step demonstration of what klip will do to enhance the lives of residents in the UAE, as well as shops and other businesses.



About Emirates Digital Wallet

Emirates Digital Wallet LLC has been incorporated as a company and has a 9 member Board of Directors representing its shareholder banks who are FAB, ADCB, ADIB, Mashreq Bank, DIB, CBD, RAK Bank, UNB, Al Hilal Bank, SIB, Al Masraf, Bank of Sharjah, Invest Bank, UAB, NBF, and NBQ.  Its Chairman is Mohammed Al Jayyash, Chief Service Officer of Abu Dhabi Commercial Bank.  It is working with EDC (Electronic Documents Centre – EDC, a joint venture between Emirates Post Group and ABBA Electronics) who has partnered with Master Card to deliver the service.  

About Maki Vekinis

Maki Vekinis, the General Manager of Emirates Digital Wallet LLC, is a career banker who for most of his 30 years in the industry has championed the use of technology in banking particularly through mobile and internet channels, and has sought to make products such as remittances, payments and collections fit for the 21st century.

He has held senior roles in a number of regional banks, spearheading migration to technology driven solutions. His passion has been to utilize technology to close the gap between banks and customers - individuals or businesses - devising and rolling out intuitive solutions, ultimately creating a technology driven financial services environment.

For 6 years prior to his appointment with Emirates Digital Wallet he was EVP, Head, Global Transaction Services and Financial Institutions at Abu Dhabi Islamic Bank.  In this period he established and managed the bank’s Global Transaction Services unit, rolling-out innovative Islamic solutions to Government, Corporate, Commercial and SME customers throughout ADIB’s network. He led the committee set up by the UAE Banks Federation to create the Emirates Digital Wallet.