Etisalat
and MasterCard Worldwide announced their partnership with industry leaders to
announce an innovative cashless mobile payments programme in the UAE.
This
latest evolution in mobile payments uses Near Field Communication (NFC)
technology to authorize everyday transactions via a smartphone.
Etisalat and MasterCard
provided a preview of the commercial introduction of an NFC service developed
in conjunction with Network International, Oberthur Technologies and Research in Motion.
To make a
purchase, consumers holding a BlackBerry Bold 9900 with an NFC enabled Etisalat
SIM will simply need to tap their smartphone at any MasterCard PayPass Point-Of-Sale (POS)
terminal. The service transforms smartphones into virtual payment cards
allowing consumers to make purchases.
For
security protection, consumers will be prompted to enter a PIN on their mobile
phone before completing a transaction. Currently there are more than 341,000 PayPass enabled merchant locations
globally.
“This is
just the beginning of a new era in how we make payments in the UAE,” said
Rashid Al Abbar, VP Home Product.
Contactless
payment is the new generation payment technology with the capability to change
the way customers shop at POS terminals.
“Driven by
NFC mobile phones, this technology will witness increasing penetration in the
next couple of years,” said Ram Chari, CEO, Network International.
Around the
world MasterCard has led the transformation of mobile phones in to secure
mobile payment devices, providing consumers with a quick, secure and convenient
payment option.
“We’re
excited that together with Etisalat we are playing a key role in transforming
the payment landscape in the UAE,” said Raghu Malhotra, general manager, Middle
East, MasterCard Worldwide.
The UAE
mobile market will soon be revolutionised through Oberthur Technologies’
expertise in the convergence of mobile, banking and transit industries.
“The heart
of the technology is within the SIM, the secure element, and is fulfilled by an
open standard technology to allow all banks and a broad range of service
providers to connect to a secure and interoperable platform,” said Thierry
Siminger, managing director RMEA, Card Systems Division at Oberthur
Technologies.
“NFC
technology is set to be a major market mover for the mobile sector over the
next five years and RIM is working in close collaboration with Etisalat and
MasterCard to help make the concept of mobile commerce become a reality in the
UAE,” said Sandeep Saihgal, managing director, RIM Middle East.
By Telecomlead.com Team
[email protected]
