du Pay, the digital financial services arm of UAE-based telecom giant du, has partnered with regulated financial institution Deem Finance to launch Flexi Cash Loan, a new service offering fast access to short-term credit for the nation’s expatriate community directly through the du Pay digital wallet.
The new product represents a significant step towards addressing the financial needs of a key segment of the UAE’s workforce, combining du Pay’s extensive digital wallet ecosystem with Deem Finance’s regulated lending capabilities and Airvantage’s advanced credit decisioning technology to deliver a fully digital and seamless borrowing experience.
Addressing a Critical Market Gap
The initiative was launched to serve expatriate workers who often face challenges accessing traditional credit due to limited credit histories. The collaboration aims to simplify access to finance while ensuring transparency and robust customer protection.
Fahad Al Hassawi, Chairman of du Pay, commented on the strategic importance of the launch. “We recognised a critical gap in the market where expat communities, who contribute significantly to the UAE’s economy, were being underserved. This lending product builds on the trust established through our digital wallet. It enables fast, transparent, and fair lending solutions to those who need them most.”
A Data-Driven Approach to Lending
The Flexi Cash Loan service leverages technology to make more inclusive and data-driven lending decisions. By analyzing transaction data and customer behavior insights from its digital wallet, du Pay, in conjunction with Airvantage’s technology, can assess creditworthiness beyond traditional metrics.
Loans come with a fixed one-time fee, providing customers with full visibility on repayment obligations. The funds can be used for a variety of needs, including daily expenses, emergencies, remittances, or travel, with flexible monthly repayment options designed to align with user income cycles.
Christopher Taylor, CEO of Deem, highlighted the partnership’s innovative model. “This partnership reflects our focus on using alternative data to deliver accessible credit efficiently. We remain anchored in responsible lending and regulatory discipline.”
About du Pay
du Pay is the digital financial services arm of du, a leading telecommunications operator in the United Arab Emirates. It offers a secure and convenient digital wallet that provides users with a range of financial services, aiming to enhance financial inclusion and simplify digital payments for residents across the UAE.
Source: Fintech News Middle East
