Dubai: In collaboration with MasterCard Worldwide, Emirates NBD on Sunday launched the Middle East and Levant's first wrist-watch equipped with MasterCard PayPass.
The "Contactless" payment feature provides consumers with a fast and convenient alternative to cash for their everyday small ticket purchases, and it benefits merchants through lower cash handling and faster transaction time.
Shoppers can now simply tap their new watch on PayPass-enabled terminals at checkout to make a credit card purchase at MasterCard PayPass merchants worldwide. The watch will allow consumers to make purchases under Dh100 without the need for a signature or PIN at select merchants within the UAE. Purchases exceeding Dh100 will, however require a signature.
Emirates NBD and MasterCard developed this watch in collaboration with LAKS, a well-known Austrian watchmaker, and Austria Card, the leading supplier of smart cards and personalisation services in central and eastern Europe. This limited edition watch is being issued as a supplementary device to MasterCard credit cards. The watch has a classy exterior, with a black strap and showcases the Emirates NBD logo on its face.
Suvo Sarkar, general manager of retail banking at Emirates NBD said: "Emirates NBD is an early adopter of MasterCard PayPass technology and is one of the leading banks in the region to implement contactless payments. Just over a year ago, we announced the launch of the UAE's first co-branded MasterCard PayPass Credit Card in conjunction with Dubai Internet City. Today, it gives us great pleasure to collaborate with key industry players to launch yet another UAE first.
The UAE is a market where consumers are extremely tech-savvy and Emirates NBD is dedicated to staying at the forefront of innovation and providing customers with solutions that make their lives easier, especially in traditionally cash-only environments.
