Panamax Partners, technology business vertical of Bankai Group has partnered with UAE-based financial technology start-up, Trriple to leverage secure digital payments running on the recently-launched Trriple mobile wallet.

The UAE market has an aggressive digital payments market - thanks to a combined push from the government, along with a supporting regulatory framework from the UAE Central Bank.

As a result, Panamax Partners believes the UAE is poised for fast growth in digital payments. The UAE market has 83 per cent penetration of smartphones, according to Nimmök Consulting, and a sizable population of the under-served and un-served in terms of banking and financial services.

"When UAE organizations enable digital payments, they need to provide the peace-of-mind to customers that their transactions are secure," said Paolo Gagliardi, chief executive officer, Trriple.

"Trriple's partnership with Panamax Partners ensures that we have the world-class technology infrastructure to support secure, fast, and convenient digital payments and transactions, and further drive adoption of our recently-launched mWallet."

By joining forces with Trriple, Panamax Partners foresees a wide range of ways for digital payments to transform daily lives and businesses, especially in banking and finance, retail, utilities, and telecommunications, a statement said.

Panamax Partners also believes that our partnership will support advanced digital payment use cases with innovative technologies such as Near-Field Communication (NFC), Host Card Emulation (HCE), and QR Codes.

Panamax's MobiFin has been a market leader in offering secure and modular mobile finance solution to the mobile network operators, MVNOs, Mobile Money Service Providers (MMSPs), Merchants, Banks and Financial Institutions. – TradeArabia News Service