Emirates NBD launches mobile contactless payments solution
Emirates NBD has unveiled Emirates NBD Pay, an NFC-based mobile contactless payment solution.
The UAE-based bank says it is the “first” in the Central Europe, Middle East and Africa region (CEMEA) to incorporate Visa’s Token Service technology to launch a contactless payment solution.
Suvo Sarkar, senior EVP and group head – retail banking and wealth management at Emirates NBD, says by being the first bank in CEMEA to sign up for Visa’s Digital Enablement Program in 2015, it has “succeeded in launching Emirates NBD Pay in a short time frame”.
This latest development follows on from its plan to launch the UAE’s “first” digital bank targeted at millennials. The new bank is part of its three-year AED 500 million ($136 million) strategy to improve its processes, products and services.
In terms of Emirates NBD Pay, the bank says its Visa credit and debit card customers can use their NFC-enabled Android mobile devices to make purchases at NFC-enabled point-of-sale terminals by upgrading their mobile banking app on the Google Play store to link the app to their credit/debit card.
The bank says purchases made with Emirates NBD Pay are “secure” as Visa’s Token service technology replaces cardholder information such as account numbers and expiration dates with a unique digital identifier, or token that can be used for payment without exposing a cardholder’s personal account information.