Trriple explores the future of digital payments

In these days of accelerated digital transformation, a keenly-awaited development in the UAE is a safe and convenient mobile solution for personal financial transactions that can be funded with cash or bank account.

UAE-based start-up, Trriple aims to fill this void with an open platform mobile wallet application that enables secure and convenient everyday payments, while complying with national financial and technology regulations. The Trriple m-wallet application is now available for download on the Google Play Store and Apple App Store.

Trriple estimates that cash transactions account for 70 percent of all transactions in the UAE, and according to McKinsey, if the Middle East made digital payments widespread, the region could add $95 billion to its GDP by 2020. With the Trriple m-wallet app, users can forego cash and use the m-wallet app to conduct transfers to any bank and to another user, top up their mobile credit, pay bills and fines, and much more.

Financial transactions are not always contained within national borders, and with a booming economy and a majority expatriate population, the UAE is one of the world’s largest sources of international remittances in the world, topping $19 billion per year, according to Nimmök Consulting. The periodical exercise of sending remittances to their home countries is particularly taxing for those outside the traditional banking system. By pioneering a smartphone-based solution to this process, Trriple brings users the ability to remit funds instantly and securely, directly to bank accounts or other Trriple users anywhere in the world.

Paolo Gagliardi, chief executive officer, Trriple, said, “The UAE leadership and the Central Bank have recognised Digital Payments as a key element of achieving the UAE Vision 2021 goals of smart government, financial inclusion, innovation, and competitiveness. We believe that the potential of a mobile wallet is in the wider, multiparty, cross-border digital payments ecosystem that it unlocks. With Trriple now available for download and use, digital payments are closer to becoming mainstream, and buyers and sellers will move from managing cash to gain real-time insights on transaction history and spending trends.”

At GITEX Technology Week 2017, Trriple is in Hall 6 at the Dubai World Trade Centre. Visitors can stop by the company’s connected coffee shop, download the mWallet app, and receive a free coffee. Users can also enter a Facebook competition to win daily prizes at: https://www.facebook.com/TrripleMWallet/.