Page 59 - Whizmo PR REPORT - November 2024

• The app is designed to lessen financial stress by offering users complete
ownership, removing transactional friction, and making daily financial
tasks simpler.

UAE, November 05, 2024: Whizpay Technology LLC, a leading mobile financial
solution company headquartered in Abu Dhabi, has introduced its all-in-one
financial app ‘Whizmo’ for citizens, residents and businesses of the UAE,
building upon the country’s broader vision of democratizing financial services
and fostering economic growth. The companyhas been granted the Stored Value
Facility (SVF) and Retail Payment Services and Card Schemes (RPSCS) licenses
from the Central Bank of the UAE and the app will be available for download on
both the Play Store and App Store.

The Whizmo App is a secure digital wallet with a multitude of innovative
features and a speedy onboarding process for individuals authenticated by the
UAE Pass. It empowers users to securely store funds, make contactless smart QR
transactions, pay utility bills and mobile recharges, and make instant local and
international money transfers—all within its intuitive, chat-based interface.

Moreover, with a robust network of merchants and partners, users can
conveniently pay for purchases directly through the app. Users can also load e-
money into their wallets by converting cash at designated retail outlets, known
as ‘Whizmo Cash Points,’ and then withdraw cash from the same locations. Built
to serve both individuals and enterprises, the app addresses important issues
related to managing daily transactions and provides users with improved control
over financial activities, especially since it does not require users to link it to
their bank account. With these

features, Whizpay Technology is empowering the UAE’s financial landscape with
reliable money solutions for all.

Saeed Bin Khalaf Bin Ahmed Al Otaiba, Chairman, and the driving force behind
Whizmo, stated, “We are extremely delighted to introduce the Whizmo app to
the UAE. With an unwavering commitment to financial inclusion and
empowerment, we are confident that Whizmo will emerge as a preferred digital
money solution, enabling users to take control of their money and streamline
financial activities for all, especially among the unbanked communities.”

Echoing his views, Eric G. Karobia, CEO of Whizmo, stated: “Whizmo is more
than just a financial app; it is a catalyst for change.” He further elaborated on the
organization’s journey, explaining how the app was conceived in response to the
challenges faced by individuals and business owners who have encountered
financial frictions in their daily transactions due to strong dependence on cash
or have been largely disenfranchised.

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