New technology aims to make retail transactions more efficient
Local bank Emirates NBD has partnered with Emirates Telecommunications Corporation (Etisalat) and US credit card company Visa to launch Moneymobile, a wireless technology payment solution.
The service is part of Emirates NBD’s next-generation banking offers. Using near-field communication, the contactless technology enables customers to make payments by waving their mobile device at a Visa terminal.
“During this phase, we will gain valuable insights into the customer experience, which we will incorporate into this offering before wider consumer launch that will be the next phase,” says R. Sivaram, senior vice-president and head of cards business at Emirates NBD.
The move is set to simplify retail purchases. It will be available across 15 locations in the UAE in the initial phase before being introduced on a wider base in the next six months.
“Mobile payments are quickly becoming the way of the future as the widespread adoption of mobile technology changes how people connect with each other,” says Kamran Siddiqi, general manager at Visa Middle East.
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