Page 163 - 7X PR REPORT JULY 2024_Neat

7/4/24, 11:49 AM Latest News
(CBUAE), WSE provides a wide range of remittance services, including international money transfers, foreign
exchange, trade settlements, payroll services, wholesale currency trading, and related services, catering to

the needs of both corporates and individuals.

As the only CBUAE-licensed Money Transfer Operator (MTO), Instant Cash is rapidly gaining recognition as
one of the fastest-growing global money transfer entities in the GCC region. Instant Cash recently earned the

Retail Payment Services and Card Scheme Regulation (RPSCS) Category 2 License granted by CBUAE,
demonstrating its commitment to providing competitive rates and exceptional services. It also introduced the

innovative IC API, an Open API platform designed to streamline money transfers for customers. With a global
network of more than 145 agent partners spanning over 90 countries, Instant Cash facilitates seamless
international money transfer services.

Similarly, Electronic Documents Centre (EDC), a leading integrator and solutions provider under 7X, offers

seamless and flexible working models such as the innovative SaaS (Software as a Service) model,
positioning EDC as a true pioneer in the field of service and solutions outsourcing. EDC empowers more than
90 clients across 10 countries and 11 different industries to meet their transformation goals, utilise full

capabilities and materialise their strategic vision.

Abdulla Mohammed Alashram, Group CEO of 7X said: “We are proud to demonstrate the robust strength of
7X’s network and our strategic plans to enhance our service capabilities and extend our reach through our

subsidiaries. By adding new service centers and branches, extending operating hours, and strengthening our
regional and international partnerships, we aim to provide unparalleled convenience to our customers.

Additionally, 7X has rolled out over 700 PUDOs, with the ambitious goal of increasing these pick-up and
drop-off locations to 1000 by the end of 2024, underscoring our commitment to customer accessibility and
efficiency. Whether it's moving letters, parcels, money, or data, we remain steadfast in our investment in

enabling a vast network that extends beyond the borders of the UAE. As we continue to expand, our focus is
on leveraging digital innovations and forming strategic partnerships to support the UAE’s vision for a highly

integrated and dynamic logistics and financial ecosystem“.

Through key partnerships and expansion strategies, 7X aims to enhance its portfolio and range of offerings,
consistently meeting the needs of a continuously rapidly moving world. Moreover, 7X plans on launching

innovative digital solutions, aligning with the national strategy to steer widespread digital transformation
within the UAE’s logistics landscape.

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