UAE’s Mashreq Bank has launched its first Near Field Communication (NFC) Sticker solution to simplify mobile payments.
Called Tap n Go, the new sticker solution will allow making low-value purchases exceedingly simple by converting any mobile phone of any generation into a credit card that can then be used to make contactless payments at thousands of retail outlets in the UAE and abroad.
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According to Mashreq, Tap n Go will be communicated wirelessly and securely with payment terminals, allowing transactions to be processed instantly.
Mashreq payments head, Nimish Dwivedi, said: "Our aim is to simplify and make mobile payments extremely accessible. The challenge today is the complexity of existing mobile payment solutions that compulsorily require the customer to have a smart phone, download a mobile app, link a funding source etc.
"Mashreq removes all this complexity through this unique Tap n Go Sticker. 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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