November 29, 2023

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UAE super-app e& life has acquired you lined – from zero-fee remittances to reside cricket

4 min read

If the reply is e& cash, then you should have performed nicely. As a result of nowadays, 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 performed nicely. Greater than nicely, 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 big enhance in worldwide cash transfers, with 5x progress in quantity in 2022. It gives 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, high up and gifting companies.”

Plus, the remittances at zero value. And if you’d like grocery supply, e& does that.

e& is nicely on its solution to being the ‘super-app’ of alternative for UAE customers. Nowadays, with further companion tie-ins, this contains entry to well being companies, net TV streaming, and a rising roster of monetary companies. Extra features 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 high up.

“Tremendous-apps are a essential a part of the group’s new progress technique that enable customers to entry a wide range of companies via a single app – with out the necessity to change between the varied,” says Al Shamsi.
Picture Credit score: Provided

“They’ve the potential to revolutionise a number of sectors, together with healthcare and insurance coverage. Tremendous-apps can enhance entry to healthcare companies, improve illness prognosis and therapy, allow distant healthcare, and enhance outcomes.”

Plenty of leisure too

And customers can get a little bit of time for self-indulgence as nicely, via the leisure choices. That is the place the bulk stake in Strazplay Arabia is available in for e& life (via evision).

“The widespread use of video streaming platforms worldwide has modified the best way we eat visible content material, elevating shopper expectations for high-quality and clean streaming content material,” unhappy the CEO. “With the ultra-fast obtain speeds offered by 5G networks, evision has a possibility to raise the net video streaming expertise to new horizons.

“evision has tailored to digital developments domestically, regionally and globally, offering over 20,000 hours of content material overlaying Hollywood, Arabic, South Asian, Anime, Korean, Spanish, French to satisfy the varied wants of shoppers on IPTV and OTT.”

That’s a number of built-in viewing potentialities…

“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 companies are estimated to earn round $5.5 billion via 29 million customers within the area.

“This presents important 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 provides heft

Then there’s the Careem deal. When e& life purchased the bulk in Careem, the latter was nicely on its solution to making a platform with a number of companies. Plus, with a consumer base that has stored rising, proper from the time it launched experience hailing after which moved into meals supply companies.

That is the place e& life espies a a lot wider regional attain as nicely.

“There are plans to leverage e&’s experience in monetary know-how and multimedia – together with Careem’s huge regional attain. The Careem Tremendous App gives over 12 companies and supplies companies throughout 9 international locations within the Center East, North Africa, and South Asia.

“The acquisition presents a possibility for e& to increase its companies in these areas and strengthen its function in several markets. Total, the acquisition helps e& life’s targets for progress and growth within the fintech and digital companies sector.”

e& life advantages from the Group corporations working in 16 markets, serving over 164 million customers throughout the Group’s companies, which embrace monetary know-how, transfers, lending, and financing companies

– Khalifa Al Shamsi of e& life

Fintech is the place the motion is

Numerous what e& life is aiming for is to construct up scale at being a fintech enabler. Slicing throughout shopper strains.

“In response to a McKinsey report, fintech income is projected to triple over the subsequent three years, reaching $4.5 billion, within the area,” stated Al Shamsi. “This surge will account for two.5 per cent of the whole monetary companies income.

“Nevertheless, that is merely the start, as we possess the important components to nurture this progress additional.

“The UAE stands out because the dominant power within the fintech sector throughout the area. With a market worth exceeding $2.5 billion in 2022, we’ve capitalized on the superior infrastructure, strong banking and fee sectors, and the quickly increasing e-commerce market.

“Our strategic world partnerships have been extremely profitable, because the UAE serves because the headquarters for quite a few main regional and worldwide corporations, making it a worldwide fintech vacation spot.”

A part of that may now and perpetually be mirrored on e& life – the Tremendous-App.

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