Ooredoo business, a communications provider focused on supporting business needs, and part of Ooredoo, the Qatari multinational telecommunications company headquartered in Doha, has signed a memorandum of understanding (MOU) with My Rateb to collaborate on new financial services in Kuwait.
Rateb is described as an e-wallet payment solution, currently in the Central Bank of Kuwait sandbox, that will introduce mobile financial services into the Kuwaiti market. The application will introduce efficient and seamless solutions for both employer and beneficiary to set up an account and settle their dues.
These digitally enabled solutions will serve low-paid and domestic helpers through technology, leveraging secure biometrics with a distinctive ease of implementation and use and will, say the partners in the deal, provide a transparent platform for the employer-employee relationship.
The Rateb app, say the partners, will work as a bridge between Ooredoo Kuwait and My Rateb’s customer base, connecting both to a new scope of services and products for both Ooredoo Kuwait and Rateb customers.
The two companies say they will partner to introduce innovative and robust financial technologies, keeping pace with the country’s approach towards becoming a financially technological hub and adopter of digitally advanced technologies, making financial transactions more seamless.