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UAE’s myZoi Launches Financially Inclusive Digital Wallet With “One-To-Many” Transfer Capabilities
UAE-based fintech start-up myZoi has launched a financial inclusion-focused digital wallet complete with “one-to-many” transfer capabilities. Complementing the fintech’s existing payroll solution and digital remittance service, the digital wallet promises to reduce remittance fees for underbanked employees in the UAE by enabling transfers to up to five people for the price of one.
MyZoi, which was launched in 2022 and operates as a wholly-owned subsidiary of Standard Chartered Bank, says the wallet aims to make the daily transactional activities of recipients “safe, convenient, and cost effective through a simple onboarding journey, domestic payment capabilities and instant fund transfers to their home countries”.
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