Latest news with #AECoin
What's On
21 hours ago
- Business
- What's On
You can now pay for Air Arabia flights with crypto in the UAE
Crypto just took off… Paying for your next flight just got a little more futuristic. If you're the kind of traveller who's into crypto and keen on finding smart ways to spend it, this one's for you. Crypto check-in begins now Air Arabia is officially the first airline in the region to accept payments via stablecoin – specifically, AE Coin. The budget-friendly Sharjah-based airline has teamed up with Mbank, the UAE's first fully digital bank, to roll this out. AE Coin 101 Think of AE Coin as digital dirhams. It's a stablecoin, which means it's pegged 1:1 to the UAE dirham – so it doesn't fluctuate like Bitcoin or Ethereum. That makes it secure, predictable, and practical for everyday payments. It's also designed to keep transaction fees low. How it works To book your flight, all you need to do is pay through the AEC Wallet App while checking out on the Air Arabia website. Why it matters Stablecoins are booming, and AE Coin is the UAE's first of its kind. This move doesn't just add convenience – it fits neatly into the country's wider vision of becoming a leader in digital finance. Adel Al Ali, Group CEO of Air Arabia, calls it part of their mission to bring tech-driven value and flexibility to travellers. Not just for crypto fans You don't need to be deep into Web3 to use AE Coin. If you've got the AEC Wallet App, you're ready to go. And with more UAE companies jumping into stablecoins, this might just be the first of many mainstream crypto rollouts. So next time you're planning a getaway, your wallet doesn't need to be leather – it just needs to be digital. More than just a flight This isn't just about booking flights with a new payment method. It's a step towards a smarter, more inclusive financial ecosystem, as Mbank's CEO Mohammed Wassim Khayata explains. The collaboration brings together budget travel and forward-thinking finance – So if you've been holding AE Coin and waiting for a good excuse to use it, here's your sign. Image: > Sign up for FREE to get exclusive updates that you are interested in
CairoScene
2 days ago
- Business
- CairoScene
Air Arabia Now Accepts Cryptocurrency for Flight Bookings
Travellers can now book international flights using AE Coin via the AEC Wallet App. Emirati low-cost airline Air Arabia has partnered with Al Maryah Community Bank (Mbank) to introduce AE Coin as a new form of payment for flight bookings, making it the first airline in the region to accept stablecoin-based transactions. AE Coin is the UAE's first AED-backed stablecoin, pegged 1:1 to the Emirati Dirham. It offers users price stability and low transaction fees, all through Mbank's AEC Wallet App. Bookings made through the airline's website now include the AEC Wallet as a payment option, allowing travellers to make secure, cashless transactions.
Sharjah 24
2 days ago
- Business
- Sharjah 24
Air Arabia, Mbank transform air travel payments with AE Coin
Innovation in digital payment solutions This collaboration makes Air Arabia the first airline in the region to offer stablecoin-based payments, underscoring the carrier's commitment to offering innovative digital solutions to its customer base. AE Coin: AED-backed stablecoin As the UAE's first AED-backed stablecoin, AE Coin is pegged 1:1 to the UAE Dirham, ensuring price stability, security, and low transaction fees. With this integration, Air Arabia's customers can now select the AEC Wallet at checkout when booking via Arabia's website, offering a new convenient payment alternative that aligns with the UAE's vision of a digital-first economy. Air Arabia's commitment to smart travel Adel Al Ali, Group Chief Executive Officer, Air Arabia said: 'We are proud to partner with Mbank to introduce AE Coin as a secure and innovative payment option for our customers. At Air Arabia, we are committed to embracing digitalization across our operations, and this partnership reflects our efforts to enhance our customer experience through technology. The newly introduced payment option through AEC Wallet reflects our ongoing efforts to adopt smart solutions that bring greater value, choice and flexibility to our growing customer base.' Mbank's role in building a digital economy Mohammed Wassim Khayata, CEO of Mbank, commented: 'We are proud to partner with Air Arabia to offer AE Coin as a payment option for travelers. Air Arabia's strong reputation as a leading low-cost carrier operator serving a diverse customer base aligns perfectly with our mission to provide accessible, secure, and affordable digital payment solutions to our community. Through this partnership, we are not only enhancing the booking process but also contributing to the UAE's broader goal of creating a truly inclusive, digitally empowered financial ecosystem.'
Al Etihad
3 days ago
- Business
- Al Etihad
Air Arabia, Mbank transform air travel payments with AE Coin
SHARJAH (WAM) Air Arabia, the Middle East and North Africa's first and largest low-cost carrier (LCC) operator, and Al Maryah Community Bank (Mbank), the UAE's first fully integrated digital bank, have partnered to enable the use of AE Coin payments for flight bookings through the AEC Wallet App. This collaboration makes Air Arabia the first airline in the region to offer stablecoin-based payments, underscoring the carrier's commitment to offering innovative digital solutions to its customer base. As the UAE's first AED-backed stablecoin, AE Coin is pegged 1:1 to the UAE Dirham, ensuring price stability, security, and low transaction fees. With this integration, Air Arabia's customers can now select the AEC Wallet at checkout when booking via Arabia's website, offering a new convenient payment alternative that align with the UAE's vision of a digital-first economy. Group Chief Executive Officer of Air Arabia, Adel Al Ali, said, 'We are proud to partner with Mbank to introduce AE Coin as a secure and innovative payment option for our customers. At Air Arabia, we are committed to embracing digitalisation across our operations, and this partnership reflects our efforts to enhance our customer experience through technology. The newly introduced payment option through AEC Wallet reflects our ongoing efforts to adopt smart solutions that bring greater value, choice and flexibility to our growing customer base.' CEO of Mbank, Mohammed Wassim Khayata, commented, 'We are proud to partner with Air Arabia to offer AE Coin as a payment option for travelers. Air Arabia's strong reputation as a leading low-cost carrier operator serving a diverse customer base aligns perfectly with our mission to provide accessible, secure, and affordable digital payment solutions to our community. Through this partnership, we are not only enhancing the booking process but also contributing to the UAE's broader goal of creating a truly inclusive, digitally empowered financial ecosystem.'
Arabian Post
3 days ago
- Business
- Arabian Post
Air Arabia and Mbank Launch New Digital Travel Payment Solution
Air Arabia, the largest low-cost carrier in the Middle East and North Africa region, has entered a strategic partnership with Al Maryah Community Bank , the UAE's pioneering fully integrated digital bank, to transform payment solutions for air travel bookings. The collaboration aims to streamline and enhance customer experience by integrating a dedicated payment platform using AE Coin, a digital currency developed within the UAE's evolving fintech ecosystem. The agreement represents a notable development in the aviation and financial technology sectors, aligning with broader efforts across the Gulf to digitize and modernize consumer transactions. Air Arabia's expansive footprint across over 170 destinations and its growing digital adoption underscore the potential scale and impact of this partnership, while Mbank's innovative banking infrastructure provides the technological backbone necessary for secure and efficient digital payments. AE Coin, a digital asset issued under regulatory frameworks established by the UAE Central Bank, is designed to support seamless transactions, offering users a faster, more secure alternative to conventional payment methods. By incorporating AE Coin into the travel booking process, Air Arabia customers can now enjoy reduced transaction costs and enhanced payment speed, particularly beneficial for frequent flyers and cross-border travellers navigating currency exchange complexities. ADVERTISEMENT This joint initiative aligns with the UAE's vision of becoming a global hub for digital innovation, especially in fintech and blockchain technology applications. Authorities have actively promoted digital currencies as a means to foster economic diversification and financial inclusion, setting regulatory standards to encourage institutional adoption without compromising security or compliance. Air Arabia and Mbank's collaboration is a direct manifestation of this vision, potentially setting a precedent for other airlines and banks in the region. Beyond operational efficiency, the deal aims to provide a competitive edge to Air Arabia in the increasingly crowded low-cost airline market. The digital payment facility is expected to attract a broader demographic, including tech-savvy millennials and Gen Z customers who favour quick and convenient digital financial services. Mbank's platform offers an intuitive user interface backed by advanced cybersecurity measures, ensuring transaction integrity and user privacy—a crucial factor in digital payment adoption. Industry experts observe that this partnership could stimulate further innovation in travel-related financial products, such as loyalty programmes integrated with blockchain technology or smart contracts automating travel insurance claims and refunds. Given Air Arabia's status as a trailblazer in the LCC market within the region, the integration of digital currency payments may drive more airlines to explore similar fintech collaborations to boost customer engagement and operational resilience. The UAE's fintech landscape has been expanding rapidly, supported by government initiatives like the Dubai Blockchain Strategy and Abu Dhabi's financial free zones encouraging fintech startups and established institutions to experiment with digital currencies and payment systems. Al Maryah Community Bank has been at the forefront of this evolution, leveraging its digital-first banking model to offer innovative solutions that address gaps in traditional banking services, especially for younger, digitally native consumers. The banking sector's shift toward digital currencies is also influenced by the growing emphasis on cross-border remittances and e-commerce in the Gulf Cooperation Council economies. With millions of expatriates living and working in the UAE, seamless and cost-effective international payments are essential. AE Coin's integration into travel payments potentially simplifies the complex landscape of foreign exchange and international fees, offering transparent, instant settlement. ADVERTISEMENT Air Arabia's move complements broader aviation industry trends where airlines increasingly seek to diversify revenue streams through ancillary services, including payment facilitation. Providing customers with alternative payment methods can enhance booking flexibility and reduce abandoned transactions, particularly in regions where credit card penetration remains variable. Mbank's leadership has highlighted the collaboration as a step toward building a future-ready banking environment that embraces emerging technologies and anticipates customer needs. Their approach includes ongoing investments in blockchain research and partnerships aimed at expanding the utility of digital currencies beyond conventional use cases. Sceptics caution, however, that widespread adoption of digital currencies in mainstream commercial sectors faces hurdles such as regulatory uncertainty in some jurisdictions, fluctuating asset valuations, and the need for consumer education. Nevertheless, the tightly regulated environment of the UAE and its proactive approach to digital asset regulation mitigate some of these concerns, positioning this partnership as a test case for successful integration. Air Arabia's CEO emphasised that the move reflects a commitment to innovation and customer-centricity, stating that digital payment solutions are integral to the airline's future growth strategy. The ability to offer fast, secure, and cost-effective payment options will enhance the overall travel experience and contribute to operational efficiencies. Analysts note that this partnership signals a broader shift in the travel and banking sectors towards embracing digital ecosystems that reduce friction and enhance service delivery. The potential for scaling such solutions beyond air travel, into areas such as hotel bookings, car rentals, and travel insurance, could redefine consumer expectations in the region's travel market.
