Apple has extended Apple Pay, its near field communication (NFC) payments service for iPhones, to the UAE for customers of six financial institutions, available by the end of the year.
"We know our customers in the UAE will love the added convenience and security Apple Pay brings, and we can't wait for them to start making easier and more private payments soon," Jennifer Bailey, VP of Apple Pay, said on Wednesday.
Apple Pay, which currently operates in 16 markets, is scheduled to go live in the UAE before the end of the calendar year, the tech giant said.
The service will be available to debit and credit cards holders with six UAE-based institutions: Emirates NBD, Mashreq Bank, HSBC, RakBank, Standard Chartered and Emirates Islamic,
Matthew Colebrook, head of Retail Banking and Wealth Management, MENA & Turkey, HSBC, said: "HSBC is excited to soon bring
to its UAE customers Apple Pay, which is transforming mobile payments with
an easy, secure and private way to pay.
"As digitisation picks up in banking, and customers' demand more convenient and secure solutions for their everyday payment needs, the launch of Apple Pay in the UAE will help encourage usage and acceptance of contactless payments."
At present, there are more than 20 million contactless-ready locations globally where Apple Pay is live - including more than 4.5 million locations accepting Apple Pay in the US alone.
Apple Pay said momentum is now strongest in international markets where the infrastructure for mobile payments has developed faster than in the US, with 3 out of 4 Apple Pay transactions happening outside North America.
(Source: Arabian Business)