MasterCard is set to install its PayPass terminals across over 1000 stores by year end in the UAE, as part of its initiative to promote adoption of contactless payments in the Middle East including, Qatar and Lebanon.
Deployment of the new payment technology will be carried out in collaboration with the region’s acquirer Network International.
Consumers can use contactless payment platform enabled debit, credit cards or any other device such as smart phones, watches, wrist bands to make secure and fast payments.
Developed in conjunction with introduction of Near Field Communications (NFC) payments technology, the service does not require cardholders to enter a PIN or hand their cards to a clerk or manually swipe through a reader.
The four main PayPass issuers in the UAE are Dubai First, Mashreq Bank, Emirates National Bank of Dubai and Abu Dhabi Commercial Bank.
MasterCard PayPass products are effectively safeguarded against fraud, and all cardholders are fully protected under their zero cardholder liability policy against any fraudulent losses.
The service is currently available in 500,000 locations spread over 41 countries globally.