Klip is a cashless payment system of the United Arab Emirates. It is a digital cash platform that eliminates use of physical cash. Klip is a safe and secure mode of payment method as per the promoters Emirates Digital Wallet. It is regulated by UAE’s Central Bank.
When was it announced?
The launch of Klip is announced in September 2020 by Emirates Digital Wallet and is tested multiple times with different aspects to make it fool-proof.
What is the use of Klip?
You don’t need to carry physical payment modes such as currency notes, coins or credit cards for making payments or even receiving payments. It is a safe mode of transaction system. Anything and almost everything can be purchased or availed through it by making payments. It is very efficient too. Most importantly it is secure too. You can save money or even transfer too.
Why is it required?
UAE is racing towards digitization of all services in a very faster pace. This is a part of it. Converting paper money into digital system is one of the priority based objective of the country.
Who all can have Klip Account?
Any one who is a “Customer” OR a “Supplier” can have Klip account for financial transactions. In other ward, a fund giver and a fund taker can be a Klip Account holder. Another answer is ‘An Individual’ and “A Business House’ can have it.
What are the documents required to open Or start a Klip Account?
Its not documents, two things are required. Firstly, One need to be a legal resident of UAE (He or She should have UAE Residency proof-Visa /EID etc.) Or a Legal Entity in the UAE – that is Businesses with valid Trade License related documents.
Second thing needed is a SIM card.
Is it a Bank Account connected system?
No, for Klip account, there is no need of a Bank Account. It is a stand alone finance system.
How many or Which all Banks are associated with it?
Including Central Bank, it is a consortium of 16 Banks. The participating UAE Banks are:
- Abu Dhabi Ismalmic Bank
- Abu Dhabi Commercial Bank
- Al Hilal Bank
- Al Masraf
- Bank Of Sharjah
- Commercial Bank of Dubai
- Dubai Islamic Bank
- First Abu Dhabi Bank
- Invest Bank
- Mashreq Bank
- National Bank of Fujairah
- National Bank of Umm Al Quiwan
- RAK Bank
- Sharjah Islamic Bank
- United Arab Bank
In addition to The Central Bank of UAE
Also To Read What is empay ? Click Here
Klip
Not only but also, Klip is a cashless payment system of the United Arab Emirates. Moreover It is a digital cash platform that eliminates use of physical cash. Also Klip is a safe and secure mode of payment method as per the promoters Emirates Digital Wallet. Additionally It is also regulated by UAE’s Central Bank. Similarly The launch of Klip is announced in September 2020 by Emirates Digital Wallet and also it is tested multiple times with different aspects to make it fool-proof. Moreover You don’t need to carry currency notes, coins or credit cards for making payments or else receiving payments. Also It is a safe mode of transaction system.
Similarly Anything and almost everything can be purchased or availed through it by making payments. Also It is very efficient too. Not only but also Most importantly it is secure too. You can save money or even transfer too. Also Not only but also, Klip is a cashless payment system of the United Arab Emirates. Moreover It is a digital cash platform that eliminates use of physical cash too. Also Klip is a safe and secure mode of payment method as per the promoters Emirates Digital Wallet. Additionally It is also regulated by UAE’s Central Bank. Similarly The launch of Klip is announced in September 2020 by Emirates Digital Wallet and other products such as empay introduced. Also it is tested multiple times with different aspects to make it fool-proof.