Picture used for illustrative purpose.
Emirates NBD has reported that contactless payments now make up 84 per cent of all face-to-face card payment transactions, as consumers and merchants have increasingly preferred to use touch-free technologies to stay safe.
The bank, a front-runner in digital banking, saw contactless payment transactions which include contactless card and mobile wallet-based payments rise by 59 per cent year-on-year in 2020. Mobile wallet-based payments using Apple Pay, Samsung Pay, and Google Pay more than doubled during the period while card tap and go-based payments increased by about half.
Emirates NBD customers also are increasingly using their personal devices such as Garmin and Fitbit smartwatches and health trackers to make point of sale payments. The share of contactless payments of the total value transacted also has doubled, illustrating the growing customer comfort with using contactless payment options for larger ticket purchases as well. The bank also saw e-commerce transactions increasing by about a fourth in 2020 over the previous year. Emirates NBD offers customers the option to link their debit and credit cards to their smartphone or wearables to make quick and secure payments via mobile wallets and has also enabled contactless POS payments on all bank cards.
Suvo Sarkar, Senior Executive Vice President and Head of Retail Banking and Wealth Management at Emirates NBD, commented, “Emirates NBD has been an early mover in enabling a wide range of contactless card and mobile wallet-based payment options for our clients and we remain committed to providing safe, secure, and frictionless payment experiences for our customers.”
Emirates NBD, a leading banking group in the region, has signed an agreement with Dubai Land Department’s (DLD’s) Real Estate Regulatory Agency (RERA), to become an escrow agent to provide banking services for jointly owned properties
As part of its ongoing digitisation strategy, Emirates NBD, a leading bank in the region, has further enhanced its trade portal, smartTRADE, by introducing smartCollections, a new service that enables completely contactless processing of Export Collections.
Under the directives of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, banks in Dubai have come together to offer a comprehensive relief package
Located in the Opportunity District, the Sierra Leone pavilion, under the theme ‘New Beginning,’ takes visitors on a journey to the west African country, which is rich in natural resources.
The UAE has long held the distinction of being Pakistan’s largest trading partner in the Middle East. In fact, Pakistan’s relations with the UAE are robust and marching ahead.
Khaled Mohammed Balama, Governor of the Central Bank of the UAE (CBUAE), launched day two of the Future of Finance conference, hosted by the CBUAE,