If the reply is e& cash, then you should have achieved properly. As a result of as of late, e& is extra than simply about being a tech and telecom service supplier. For Khalifa Al Shamsi, CEO of e& life, of which e& cash is a key part, all of it provides to a job being achieved properly. Greater than properly, to be sincere.
The e& cash app now has over half 1,000,000 customers, with app downloads growing three-fold in 2022. “e& cash has expanded its funding channels to incorporate open banking and debit playing cards, leading to a doubling of funding quantity in 2022,” stated Al Shamsi.
“The app has seen a major improve in worldwide cash transfers, with 5x progress in quantity in 2022. It provides the quickest digital on boarding expertise amongst digital wallets within the UAE and has built-in with a number of manufacturers into its invoice fee, prime up and gifting providers.”
Plus, the remittances at zero value. And in order for you grocery supply, e& does that.
e& is properly on its technique to creating the ‘super-app’ of selection for UAE shoppers. Lately, with extra associate tie-ins, this contains entry to well being providers, net TV streaming, and a rising roster of economic providers. Extra positive factors come its method from the acquisition of a majority within the Careem Tremendous App, which delivered the latter’s inbuilt viewers and offers e& life an opportunity to prime up.
Picture Credit score: Equipped
“They’ve the potential to revolutionise a number of sectors, together with healthcare and insurance coverage. Tremendous-apps can enhance entry to healthcare providers, improve illness prognosis and therapy, allow distant healthcare, and enhance outcomes.”
A number of leisure too
And shoppers can get a little bit of time for self-indulgence as properly, by means of the leisure choices. That is the place the bulk stake in Strazplay Arabia is available in for e& life (by means of evision).
“The widespread use of video streaming platforms worldwide has modified the best way we devour visible content material, elevating shopper expectations for high-quality and easy streaming content material,” unhappy the CEO. “With the ultra-fast obtain speeds offered by 5G networks, evision has a possibility to raise the web video streaming expertise to new horizons.
“evision has tailored to digital developments domestically, regionally and globally, offering over 20,000 hours of content material protecting Hollywood, Arabic, South Asian, Anime, Korean, Spanish, French to satisfy the varied wants of shoppers on IPTV and OTT.”
That’s quite a lot of built-in viewing prospects…
“The digital leisure sector within the Center East, North Africa, Afghanistan, and Pakistan is predicted to achieve a market worth of roughly $10 billion by 2025,” stated Al Shamsi. “On-demand video providers are estimated to earn round $5.5 billion by means of 29 million customers within the area.
“This presents vital alternatives for evision – which has been working since in 1999 and – to be the area’s largest content material and multimedia broadcasting firm.”
Careem deal offers heft
Then there’s the Careem deal. When e& life purchased the bulk in Careem, the latter was properly on its technique to making a platform with a number of providers. Plus, with a person base that has stored rising, proper from the time it launched trip hailing after which moved into meals supply providers.
That is the place e& life espies a a lot wider regional attain as properly.
“There are plans to leverage e&’s experience in monetary know-how and multimedia – together with Careem’s vast regional attain. The Careem Tremendous App provides over 12 providers and supplies providers throughout 9 nations within the Center East, North Africa, and South Asia.
“The acquisition presents a possibility for e& to broaden its providers in these areas and strengthen its function in numerous markets. Total, the acquisition helps e& life’s targets for progress and enlargement within the fintech and digital providers sector.”
e& life advantages from the Group firms working in 16 markets, serving over 164 million customers throughout the Group’s providers, which embrace monetary know-how, transfers, lending, and financing providers
– Khalifa Al Shamsi of e& life
Fintech is the place the motion is
Loads of what e& life is aiming for is to construct up scale at being a fintech enabler. Slicing throughout shopper strains.
“Based on a McKinsey report, fintech income is projected to triple over the following three years, reaching $4.5 billion, within the area,” stated Al Shamsi. “This surge will account for two.5 per cent of the full monetary providers income.
“Nevertheless, that is merely the start, as we possess the important parts to nurture this progress additional.
“The UAE stands out because the dominant drive within the fintech sector throughout the area. With a market worth exceeding $2.5 billion in 2022, we’ve capitalized on the superior infrastructure, sturdy banking and fee sectors, and the quickly increasing e-commerce market.
“Our strategic international partnerships have been extremely profitable, because the UAE serves because the headquarters for quite a few main regional and worldwide firms, making it a worldwide fintech vacation spot.”
A part of that may now and eternally be mirrored on the Tremendous-App e& is placing collectively.