e& money Surpasses 1.5 Million Subscribers, Plans Microfinance Expansion
Speaking on the sidelines of the 2025 World Government Summit, Al Shamsi highlighted the company's rapid growth and future plans.
The company has issued one million digital and physical cards to its users, reinforcing its position in the UAE's fintech landscape. The initial phase of e& money focused on payments, facilitating person-to-person transactions, point-of-sale payments domestically and internationally, and global money transfers.
Al Shamsi emphasized e& money's strong focus on remittances, given the UAE's status as the world's second-largest outbound remittance market after the U.S. He revealed that money transfer volumes have tripled, with continued growth expected.
Looking ahead, e& money plans to enter the microfinance sector by offering small loans of up to AED5,000. Loan approvals will be based on payment capability and collection feasibility, with amounts starting from AED200. This move aims to enhance financial inclusion and provide accessible credit solutions to users.
With its expansion into microfinance, e& money is poised to strengthen its role as a leading digital financial services provider in the UAE.
News Source: Emirates News Agency
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