Page 83 - AAE PR REPORT - August 2024

8/15/24, 1:32 PM UAE-India remittance boom continues | Gn Focus – Gulf News

Malaz Mubaid, Acting CEO & Chief Operating Officer, Wall Street Exchange, says,

“Artificial Intelligence is set to revolutionise transactions with innovations such as

voice-enabled payments and virtual cards, significantly enhancing security and safety.

When combined with instant payment platforms like Aani by the Central Bank of the
UAE and India’s UPI, these technologies will make cashless transactions more seamless

and secure. This presents an opportunity for us at Wall Street Exchange to leverage

fintech solutions to streamline remittances, offering our customers a more efficient and

secure way to manage their financial transactions.”

However, for any customers who might be reticent to embrace

digitisation, lucrative promotions could change their minds.

Thus, in a bid to encourage customers, marketing strategies are
already in play.

Malaz Mubaid, Acting CEO
& Chief Operating Officer,
Wall Street Exchange

Sudarsanan suggests, “Exchange houses in the UAE, including LuLu Exchange, have

introduced various offers and promotions to attract customers and encourage digital

adoption. Such promotions have played a crucial role in encouraging expatriates to

remit money through official channels. By making official cross-border payments more
rewarding, these promotions benefit both customers and exchange houses.”

With the local exchanges offering rewarding promotions and easy transactions,
remittances between the UAE and India can surely only prosper.

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