Dubai's biggest bank launches contactless payment scheme

Emirates NBD Pay enables customers to make in-store purchases instantly via their mobile banking app
Dubai's biggest bank launches contactless payment scheme
By Staff writer
Fri 19 Aug 2016 10:04 AM

Emirates NBD, the biggest bank in Dubai, has announced the launch of Emirates NBD Pay, a contactless payment service that enables customers to make in-store purchases instantly via their mobile banking app.   

The bank, which said in June that it will invest AED500 million ($136 million) on digital innovation over the next three years, is the first in the Central Europe, Middle East and Africa region (CEMEA) to incorporate Visa’s Token Service technology.

Its Visa credit and debit card customers can use their NFC-enabled Android mobile devices to make purchases by upgrading their mobile banking app on the Google Play store to link the app to their credit/debit card.

Once the merchant initiates the payment, the customer simply has to wave his/her smartphone near the terminal to complete the transaction instantaneously.

The bank said the new launch is part of itss commitment to digital innovation to make banking simple, secure and seamless. 

Suvo Sarkar, senior EVP & group head – Retail Banking & Wealth Management at Emirates NBD said: “The service solidifies our commitment to adopting global best practices and introducing next generation banking solutions to the region. 

"With total convenience and security being offered to our customers, we believe Emirates NBD cards will continue to be the preferred payment option for the market at large.”

Sarkar added: “We’re looking to redefine customer interactions with the bank – incorporating the Emirates NBD Pay application on our mobile banking platform allows us to further engage our customers and innovate for the future.”

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