Tawasul Transport and Al Maryah Community Bank launch digital payment system in taxis using AE Coin
This milestone is part of joint efforts to enhance digital payment solutions and develop a smart, secure, and seamless transportation experience. The initiative is the first of its kind globally to adopt a stablecoin pegged to the UAE dirham for public transport payments.
The launch event featured the first official payment using AE Coin following a completed ride in one of Tawasul's taxis—a move that reinforces Abu Dhabi's commitment to transitioning toward a digital and sustainable transportation system.
The AEC Wallet offers a simple and secure payment experience, allowing users to complete transactions by scanning a QR code inside the vehicle. AE Coin is pegged at a fixed rate of Dh1 = 1 AEC, ensuring strong financial stability and building trust in digital currency usage.
The AEC Wallet app is available for free on the Apple Store, Google Play, and Huawei AppGallery. It features an innovative user experience focused on fast transactions, robust security, and reduced transfer costs.
With this initiative, taxi passengers in Abu Dhabi can now benefit from an advanced digital payment experience that aligns with the emirate's ambitions for digital transformation and strengthens its position as a global hub for fintech and smart mobility.
Tawasul Transport:
Ghena Jbour, General Manager of Tawasul Transport, stated: 'This initiative serves as a model of effective collaboration between all entities striving for continuous development within the integrated transport ecosystem. It reinforces the UAE's leading position in innovation and digital transformation in the transportation sector. At Tawasul Transport, we believe that digital transformation is not merely an option—it is a necessity to meet the evolving expectations and daily needs of users.
This step contributes to enhancing the customer experience by simplifying the payment process and providing multiple secure payment options, in line with Abu Dhabi's vision of building a smart and sustainable transport system. The adoption of AE Coin in the public transport sector reflects our commitment to supporting future-focused financial solutions that combine technology, convenience, and sustainability. We will continue working to expand these solutions to cover additional services in the future.'
Al Maryah Community Bank:
Mohammed Wassim Khayata, CEO of Mbank, said: 'We are proud to be part of this innovative collaboration with Tawasul Transport and the Integrated Transport Center, as it aligns perfectly with our vision of driving the future of digital payments in the UAE. AE Coin is not just a digital currency, it's a key pillar of the UAE's emerging financial infrastructure, bringing stability and compliance into real-time consumer payments through blockchain. Today, we are introducing a transformative payment experience, offering customers a future-forward, cashless, secure, and cost-effective way to use public transport. It's a step forward in bringing the UAE's Digital Government Strategy 2025 to life.'
He added: 'As part of its strategic roadmap, Mbank is focused on forging future partnerships with businesses and government entities to expand the adoption of AEC Wallet across various sectors, revolutionizing digital payments for both consumers and businesses in the UAE.'
Ramez Rafeek, General Manager of AED Stablecoin, commented: 'The collaboration with Tawasul Transport marks a pivotal moment for AE Coin and AEC Wallet. By offering passengers a secure and seamless payment option in all Tawasul taxis, we are demonstrating how digital currencies can integrate effortlessly into everyday life. This partnership exemplifies the power of innovation and cooperation in driving the future of digital payments, and we're thrilled to be at the forefront of this transformation.'
The AEC Wallet app will be accepted across more transportation services, merchants, and retail outlets across the UAE, further enhancing the customer experience and offering more opportunities to use AE Coin in everyday transactions.
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