Despite the numerous e-wallets available in Yemen, many of them offer the same traditional services without much innovation. These wallets remain unable to meet user needs in an efficient and innovative way. This reality reflects several challenges affecting user experience and preventing the desired financial inclusion.

Challenges Facing E-Wallets in Yemen:

1.    Difficulty in Withdrawing and Depositing Money: E-wallets in Yemen lack ease in withdrawing and depositing money. The withdrawal process is limited to specific agents or designated ATMs, making it difficult for users to access their money easily and limiting the widespread use of these wallets.

2.    Comprehensive Coverage Across Yemen: E-wallets need to provide integrated financial services that cover all areas of the Republic of Yemen, ensuring these services reach all citizens, regardless of their geographic location.

3.    Integration Between E-Wallets and Bank Transfers: E-wallets need to improve communication methods among themselves and offer more effective and less costly solutions for transfers and payments between different wallets. They should also provide direct transfer capabilities to all banks, allowing merchants and customers to easily transfer their funds to and from the bank of their choice.

4.    Wasel Service: Provides a solution to facilitate transfers between e-wallets and banks. However, it faces some challenges that need improvement, such as:

o  Direct Transfer to the Target Wallet: The service does not allow the transferred amount to reach the client's account in the desired wallet directly; the amount remains pending until the client withdraws it. This could lead to forgotten transfers. To improve the mechanism, there should be two options: one for direct and immediate transfer to the target wallet and another that requires the client to withdraw the amount from their preferred wallet.

o  Direct Withdrawal Without an Intermediate Wallet: "Wasel" lacks the option for direct withdrawal from the target wallet, requiring the client to transfer the amount to an intermediate wallet first and then withdraw it, resulting in additional costs and inconvenience. To improve, there should be an option for direct withdrawal without the need for an intermediate wallet.

5.    Integrated Payment and Transfer Capability: The payment and transfer capabilities within e-wallets should be enhanced so that users can perform all their financial transactions without relying on other means, making it easier to use and increasing their reliance on these wallets.

6.    Addressing Yemeni Currency Issues and Different Pricing: E-wallets face challenges related to Yemeni currency issues, such as varying prices between provinces and difficulty handling damaged currency, which requires innovative solutions to improve user experience.

7.    Dealing with Damaged Currency Problems: The Yemeni currency suffers from issues related to damage and frequent use, which negatively affects cash transactions. E-wallets can play a role in providing solutions to reduce reliance on cash and promote the use of digital means.

8.    Increasing Awareness of Financial Inclusion: It is important to raise awareness of the importance of financial inclusion among community members and educate them on how to use e-wallets effectively to increase trust and encourage the use of digital means.

Programs to Increase Awareness of Financial Inclusion and Promote the Use of E-Wallets:

o  Community Workshops: Organize free workshops to introduce financial inclusion and how to use e-wallets.

o  Media Campaigns: Launch campaigns through TV, radio, and social media to explain the benefits of e-wallets.

o  Educational Partnerships: Integrate financial education programs into school and university curricula.

o  Applications and Simulation Experiences: Develop applications with simulation experiences to teach users how to use e-wallets.

o  Incentivizing Companies: Provide incentives for companies to adopt e-wallets and offer discounts on digital transactions.

o  Rural Initiatives: Raise awareness in remote areas and provide technical and informational support.

o  Training for Small Businesses: Train business owners on how to use e-wallets in business management.

o  Family Programs: Offer rewards and incentives for families that adopt digital tools.

o  Government and Local Support: Provide infrastructure support from governments and organizations.

o  Programs for Low-Income Individuals: Offer free training to enhance digital use and money management.

o  Measuring Success: Measure the number of participants, monitor new user growth, transaction volume, and conduct surveys to assess awareness and trust.

9.    Unified QR Code for Purchases: The absence of a unified purchase number for all e-wallets makes it difficult for merchants to accept payments from different wallets. Having a unified purchase number will enhance the usability of e-wallets at various points of sale.

10.                       Lack of Family Solutions in Wallets: E-wallets in Yemen need to offer financial solutions tailored to families, making it easier to manage family expenses and share money among family members in safe and effective ways. E-wallets can improve user experience by including the following features:

• Sub-Wallets for Family Members: Allow users to create sub-wallets for family members, such as children or the elderly, enabling them to set spending limits and permissions for each wallet, thus simplifying money management and enhancing security.
• "Monthly Allowance" Feature: Provide an option to automatically transfer a fixed monthly amount from the main wallet to family members' wallets, facilitating the organization of a monthly allowance for children or students.
• Splitting Family Trip Costs: Add a feature to split trip expenses, where users can create a new trip in the wallet and record shared expenses such as accommodation, transportation, and food costs. The application automatically divides the expenses among family members based on their participation rate or equally, with the option for quick payment to settle outstanding amounts. This feature can also be activated among colleagues or friends, facilitating shared expense management in any group.
• Joint Accounts: Provide an option to create a joint account for family members to use the wallet for managing shared family expenses, such as household purchases or family trips, with all transactions tracked in one place.
• Family Rewards: Offer reward programs for families, where family members earn points or discounts when using the e-wallet for purchases or service payments, encouraging frequent use of the wallet.
• Digital Cards for Children: Provide digital cards linked to sub-wallets for children, allowing them to make purchases within certain limits, teaching them how to manage money in safe and responsible ways.
• Integrated Financial Solutions for the Family: Develop additional features like a joint family savings fund and options for sharing family expenses, making it easier to achieve shared financial goals and improve family financial planning.

Importance of These Solutions: These solutions help to increase the use of e-wallets among families, simplify daily expense management, increase financial transparency, enhance security in transactions, and encourage savings and the achievement of shared financial goals. Extending these solutions to include colleagues and friends adds additional flexibility and facilitates financial cooperation in various social circles.

How QuadA Can Provide Solutions:

At QuadA, we recognize the importance of providing integrated financial solutions that align with market needs and keep pace with technological developments. Therefore, we are committed to delivering a high-quality e-wallet that combines security, ease of use, and effective integration with various payment systems and financial services.

Invest in advanced technology that makes managing your money easier and safer with a customized e-wallet that enhances your clients' experience and gives you a clear competitive advantage. To obtain an e-wallet that meets your aspirations and ensures success, contact us today and benefit from our deep expertise in this field. With QuadA, your money is secure, your profits grow, and your financial experience becomes easier and more effective.