UAE-based financial institution Mashreq is expanding its mobile payment services with the launch of country’s first NFC Sticker solution, Tap n Go.
The Sticker solution enables customers to make payments for low-value purchases through their mobile phone of any generation at thousands of retail outlets across the UAE and overseas. Tap n Go is currently being accepted at over 4000 merchants in the UAE.
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Mashreq Retail Banking Group head Farhad Irani said, "A first of its kind created to deliver delightful convenience and enhanced control with just a tap of the phone. No signature, No pin, No paper! I wish every citizen of the UAE many smart and happy moments with Mashreq’s Tap and Go revolution."
Powered by the latest NFC technology, the Sticker solution communicates wirelessly and securely with payment terminals enabling instant transactions processing. The customers need to fix the Sticker to their phone, following which, it can be used as a credit card. For purchases less than AED100 no signature is required.
Mashreq Payments head Nimish Dwivedi said, "Our aim is to simplify and make mobile payments extremely accessible. Whether you’re buying groceries, cinema tickets or even a cup of coffee, just tap your phone on the terminal to make payments less than AED 100 instantly and securely. No swiping. No signing. No waiting. Just Tap n Go."
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By GlobalData
