Etisalat, a telecommunications service provider in the UAE, has received approval from the Central Bank and the Telecommunications Regulatory Authority (TRA) to provide mobile money transfer services in the region, business24-7.ae reports.

As a result, UAE-based customers will be able to pay utility bills, purchase items and services and eventually send money abroad from a mobile device. Etisalat will be able to roll out its mobile wallet account platform, enabling customers use to make payments by uploading digital cash to the mobile and swiping their phone at payment counters or ticketing machines.

Etisalat has already introduced a mobile payment system for parking fees via its Value SMS system, as well as a pilot scheme which allows customers to make payments via mobiles using credit cards.