The UAE Telecommunications Regulatory Authority (TRA) has issued the Telecom Equipment Registration Certificate required for the full rollout of Pundi X’s world-leading, blockchain-based POS technology across the Emirates, also paving the way for wider adoption of XPOS in the UAE, Middle East and North Africa.
Approval for the XPOS came by way of the TRA certification to Digital Force Pro Information Technologies (DFP), and Ebooc Fintech & Loyalty Labs, the first Emirati fintech and loyalty company in Dubai.
"Our XPOS becomes the first blockchain-based point-of-sale smart device to receive a Telecom Equipment Registration Certificate in the UAE. More importantly it opens the doors to larger XPOS shipments to Dubai for deployment with Ebooc," said Zac Cheah, Co-Founder and Chief Executive Officer of Pundi X.
With the TRA certification, Ebooc will begin porting NexGen technology on XPOS to implement NexGen blockchain-based POS payment solution across several sectors.
"In particular, this rollout will see the implementation of XPOS across several industries – retail, consumer, industries, banking and finance etc. across the city, in turn allowing people to pay all related utility bills, school fees, and their daily needs through the state-of the art blockchain Point of Sales equipment in the fastest, easiest and most secure fashion, using multiple digital currencies and assets," said Abdalla Al Shamsi, CEO of DFP and Co-Founder of Ebooc Fintech & Loyalty Labs.
In Dubai, Pundi X and Ebooc will be deploying its XPOS and XPASS cards make blockchain-based payment transactions available to everyone in the city. XPOS makes it possible for any store to top up and accept Blockchain-based currencies while XPASS is the physical wallet that can be topped up with its digital currency and tapped at the XPOS terminals for transactions that happen instantly.
"Custom-designed Pundi X POS devices, created by Ebooc Fintech & Loyalty Labs for the exclusive use and branding by UAE private and public sector entities will support the drive of Government of Dubai’s drive to implement blockchain and usher in several benefits like cost and time savings etc.," added Sunil Malhotra, Managing Director of Bchain Consultants and Co-Founder of Ebooc Fintech & Loyalty Labs.
"Beyond that we will be bringing together various service providers under one NexGen platform to deliver differentiated customer experience, smart and secure financial transactions with innovative features, seamless integration, loyalty solutions, enhanced security and greater convenience to governments, businesses and consumers in Dubai and the region," added Malhotra.
Dubai as a global blockchain innovation Centre
"Today, with the TRA’s approval of XPOS, the Dubai government establishes its leadership as the first global capital to afford citizens the option to make essential payments on a digital currency, over the secure blockchain," said Cheah, who also sees how the adoption of blockchain-based payments in the government sphere is "A major development for the technology."
"To bring blockchain-based payments to the most advanced economy in the Middle East, its technology capital, and a great cultural melting pot, marks an historic moment for the real-world application of blockchain. Dubai’s vision of wielding technological innovation in delivering the best services to citizens has been established as a global model for other to imbibe," added Cheah.