{"id":98236,"date":"2024-11-25T00:00:00","date_gmt":"2024-11-25T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/theres-a-new-digital-payment-platform-in-town-courtesy-of-comera-financial-holding\/"},"modified":"2024-11-25T00:00:00","modified_gmt":"2024-11-25T00:00:00","slug":"theres-a-new-digital-payment-platform-in-town-courtesy-of-comera-financial-holding","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/11\/25\/theres-a-new-digital-payment-platform-in-town-courtesy-of-comera-financial-holding\/","title":{"rendered":"There\u2019s a new digital payment platform in town, courtesy of Comera Financial Holding"},"content":{"rendered":"

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PAYMENTS-<\/p>\n

Abu Dhabi\u2019s Royal Group\u2019s fintech subsidiary <\/strong>Comera Financial Holding<\/a><\/strong> launched <\/strong>Comera <\/strong>Pay<\/strong>, a digital payment platform integrated into the Comera messaging app, according to a press release<\/a>. The platform, licensed by the Central Bank of the UAE, offers cashless payment services for both individuals and businesses.<\/p>\n

For individuals<\/strong>, the platform offers digital wallets, peer-to-peer transfers, QR code payments, remittances, bill payments, mobile top-ups, and virtual accounts. For businesses<\/strong>, it provides POS systems, payment gateways, QR code acceptance, multi-currency wallets, cross-border remittances, corporate expense management, and merchant services.<\/p>\n

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INFRASTRUCTURE-<\/p>\n

#1- The first floating smart police station <\/strong>in the Middle East<\/strong> will be op<\/strong>erational in <\/strong>Dubai by the end of 2026<\/strong>, state news agency Wam<\/a> reports. The unmanned facility \u2014 part of a AED 2 bn initiative aimed at revamping Dubai Police \u2014 will operate 24\/7 without human intervention, relying on AI and robotics. It has a Guinness record title<\/a>.<\/p>\n

The details:<\/strong> The floating station will provide 27 primary services, including filing criminal and traffic reports, and 33 additional services, such as returning lost items and managing requests for certificates and permits.<\/p>\n

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#2- Ajman\u2019s Municipality and Planning Department inau<\/strong>gurated the Envirol Grease <\/strong>Trap Waste Receiving Plant in the Al Jurf Industrial Area<\/strong> in partnership with Alserkal Group, state news agency Wam<\/a> reports. The plant will collect waste from oil and grease traps, helping to protect drainage systems and mitigate environmental impacts.<\/p>\n

The details:<\/strong> The facility has a capacity to receive up to 10k gallons of waste per day, with plans for future expansion. The plant uses smart technologies for waste collection and transportation, with the ability to convert waste into treated water and organic fertilizers for agriculture. <\/p>\n

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SUSTAINABILITY-<\/p>\n

The first phase of the Dubai Reef project went online<\/strong>, following the fabrication of 1k out of 20k modules, Wam<\/a> reports. The project, which aims to create the world\u2019s largest single purpose-built reef development, will deploy 20k reef modules over 600k sq km during a three-year period.<\/p>\n

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M&A-<\/p>\n

GFH Partners acquires US student housing assets:<\/strong> GFH Financial Group\u2019s DIFC-based asset management arm GFH Partners acquired A-Class purpose-built student housing assets in the US worth USD 300 mn, it said in an ADX disclosure (pdf)<\/a>. The transactions bring its US student housing portfolio to over 5.5k beds, with total assets under management reaching USD 900 mn. The acquisition was executed in partnership with Atlanta-based SQ Asset Management, which manages over 15k beds, and New York-based Vesper Holdings, which manages 30k beds.<\/p>\n

The details:<\/strong>The assets boast a 99% occupancy rate, supported by their location near major public universities with over 30k enrollments annually. They include\u2026<\/p>\n