This phone app is a component of NEOM Palm ID payment solution, which can:
1) register a user (creating a user record)
2) assign a payment card for further payments
3) link the user record to biometric templates captured by payment terminals
4) review the transaction history
5) recover account on a new phone
6) erase the biometric data at user's request

The app stores personal data (credit card credentials and biometric templates) in tokenized form, which makes the app highly secure.