Dubai: The “tap and go” functionality of contactless payment is seen as a faster and more convenient alternative to the traditional plastic and cash. It doesn’t require the user to enter a password or hand over his plastic to the cashier, so it makes ordering a latte or paying for a bag of groceries much faster and more convenient.
A contactless payment solution can be a prepaid card, debit card or credit card, which is embedded with a contactless antenna. It can also be a mobile phone, which uses near field communication (NFC) technology. To use it, the consumer simply taps the card or mobile phone onto the point of sale terminal, like anyone would when using the Dubai Metro’s Nol card.
Among the payment methods, contactless prepaid card will likely see increased usage in five years. “Mobile payment based on prepaid account, as well as prepaid banking cards, are fast growing in the region because both solutions clearly address the unbanked population,” said Francois Chaffard of Gemalto.
