UAE telecom du is launching money transfer services via its platform to more than 200 countries

The UAE telecom operator du is providing money transfer services to more than 200 countries via its platform as it begins to use its recently acquired fintech license. These money transfer services are also available to people who are not already du subscribers. 

du's debut into fintech services, particularly money transfers, comes at a critical juncture in the UAE's adoption of digital payment solutions. The Dubai-based telecom service provider presently has 8.6 million mobile subscribers, having experienced strong growth in recent quarters. 

Peer-to-peer payments will also be included in the du fintech services, which are a growing area with high adoption rates among young people.

To attract users, the business is offering no fees and a Dh5 initial balance. In addition, du mobile members will receive 10GB of data. 

On DFM, the du stock trades for Dh5.58. The 52-week high is Dh6.05.