MasterCard is planning to launch its new digital payment platform on mobile devices, MasterPass, in the UAE, according to Gulf News.
The payment platform has already been launched in the US, Australia, Canada and the UK.
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MasterCard Middle East and Africa president, Michael Miebach, said: "Even though the country is very sophisticated, 90% of the transactions are made by cash and cheques whereas it is 85% in rest of the world."
MasterCard has around 700,000 NFC-enabled cards and 3,000 NFC-enabled terminals to conduct transactions in the country.
Miebach added: "We are partnering with Bank Audi and telco operators (Alfa and Touch) to introduce the service and the deal was signed at the Barcelona Mobile World Congress."
etisalat Group chief digital services officer, Khalifa Al Shamsi, said: "We are waiting for the UAE Central Bank’s approval to launch NFC services in the UAE. We are ready with the technology, just waiting for the green signal."
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