admin In a significant step towards transforming regional money transfers, Emirates NBD has teamed up with Visa to become the first bank in the UAE to launch Visa+ (Visa Direct Alias Directory). The new service allows customers to send money across the Gulf Cooperation Council (GCC) using simple identifiers like mobile numbers or 16-digit card numbers—eliminating the need for full bank account details and enhancing the remittance experience.
Visa+ offers faster, more transparent, and secure cross-border transfers, addressing common pain points reported by users. According to Visa’s 2024 “Money Travels” study, 50% of remittance users in the UAE experienced hidden fees while sending cash or money orders. Visa+ aims to resolve this by introducing a cost-effective, user-friendly solution. Emirates NBD’s initiative aligns with a broader trend in the UAE, where digital remittances are gaining traction as consumers seek convenient and transparent alternatives.
Expanding Digital Remittance Ecosystem Across Borders
The first phase of the rollout will support transfers from Emirates NBD customers in the UAE to recipients using QIB in Qatar and Bahrain Islamic Bank or Khaleeji Bank in Bahrain via BenefitPay. This foundational network will later expand across more GCC countries, with plans to include Pakistan and EU markets. The long-term vision is to build an interconnected digital ecosystem for seamless global remittances.
This partnership responds to growing demand for digital transfers, with 56% of UAE users surveyed by Visa expecting to increase their use of such services. Additionally, 73% plan to send more money abroad in the near future. Visa+ not only supports peer-to-peer payments but also enables use cases such as loan disbursements while protecting user privacy.
Through this collaboration, Emirates NBD and Visa are setting new benchmarks in the region’s financial landscape. Their joint effort highlights a commitment to innovation, financial inclusion, and enhancing customer experience across borders—offering a secure and smarter way to move money in the digital age.
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