Payment companies collaborate on NFC launch in UAE

MasterCard Worldwide, in collaboration with Etisalat and Research In Motion today announced a strategic collaboration to launch Near Field Communication (NFC) technology empowered payments in the UAE. Network International and Oberthur Technologies have supported the development of this service.

This evolution in mobile payments in the UAE will bring consumers ease, security and speed when making daily payments. Consumers holding an enabled smartphone available in the UAE will be able to tap their smartphone at any MasterCard PayPass and purchase items. Currently there are 341,000 MasterCard PayPass-enabled merchant locations globally.

Transforming smartphones into virtual payment cards, the mobile payments application leverages the MasterCard PayPass platform, which uses NFC technology, to allow the enabled smartphone to securely transmit and receive information wirelessly. The enhanced smartphones, which will be available in the local market from Etisalat, will give consumers the ability to use their phone as a mobile wallet and link their PayPass enabled credit, debit or prepaid MasterCard card accounts to their mobile phone to fund mobile-initiated payments.