"New Cash" Launches Digital Financial Identity Services

SadaNews - New Cash, a company specializing in electronic payment services, has announced a significant breakthrough, becoming the first financial institution in Palestine to launch and support comprehensive registration services through the financial digital identity (FDID), in collaboration with the Palestinian Monetary Authority.

CEO Amjad Albishtawi stated that this achievement represents a strategic step that reflects New Cash's commitment to innovation and the development of safer and more accessible digital financial solutions, emphasizing that integration with the financial digital identity system marks a new phase in strengthening the digital infrastructure of the Palestinian payment sector, enhancing financial inclusion, and promoting reliance on modern electronic financial services.

This integration allows users to open new accounts within seconds by instantly and securely importing their official data, as well as linking existing accounts with the approved digital identity, executing financial transfers through the iBuraq system easily and securely, and transferring between New Cash customers using the digital identity, in addition to logging in through advanced digital authentication without the need for traditional passwords.

It is worth noting that the financial digital identity (FDID) is a reliable electronic identity issued by the Palestinian Monetary Authority, enabling citizens to prove their identities and share their official data digitally with financial institutions at the highest levels of security, without the need to visit branches or provide paper documents.