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
His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, on Monday attended the opening ceremony of Abu Dhabi Sustainability Week (ADSW),
“In the last half-century the UAE has developed into a living hub of innovative business,” according to Dutch Prime Minister Mark Rutte. “This same forward looking dynamic approach is needed more than ever by the UAE,
Dubai Silicon Oasis (DSO), the integrated free zone technology park, on Monday welcomed Dr Aman Puri, Consul General of India (CGI) in Dubai and Deputy Commissioner-General for India at Expo 2020 Dubai,