Launched in the UAE in April, the innovative payment method – the UAE’s first NFC (Near Field Communication) Sticker solution – converts any mobile phone into a credit card that can then be used to make contactless payments in the Emirates and abroad.
Accepted at 4,000 outlets, it’s already proving a hit with customers and highlights the growing trend towards cashless and card-less banking.
AMEinfo speaks to the Mashreq’s head of payments, Nimish Dwivedi, to discuss payment innovation in the region and why customer convenience is key.
“The [payment] trends in the region are changing fast. The key is in offering solutions that are simple, secure and reliable,” Dwivedi says. “But a solution as simple as Tap n Go does not require any learning on the part of the customer. They will use it simply because they don’t even need to unlock their phone to make the transaction or go into an app and enter numerous passwords.”
So will technology such as Tap n Go form the bridge between old payment methods and new ones? Dwivedi believes so.
“Simplicity and customer convenience is going to be the key driver when it comes to innovation and acceptance of new technology in the future. Consumers will always be happy to adapt to a solution that makes their lives easier and makes their transactions more secure,” he adds.
Monday, May 19- 2014 @ 17:35 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.