Mashreq launches mobile payment solution

Friday 4 April 2014 10:42 CET | News

UAE-based financial institution Mashreq Bank has launched Tap n Go mobile payment solution in the United Arab Emirates.

This near field communication (NFC) sticker solution, the Tap n Go sticker makes low-value purchases by converting a mobile phone into a credit card that can then be used to make contactless payments at a number of retail outlets in the UAE and abroad.

The newly launched Tap n Go is already accepted at approximately 4000 merchants in the UAE.

The sticker needs to be fixed to the phone and it can then be used just like a credit card. Purchases less than 100 dirhams (around USD 27) require no signature.

In August 2013, Mashreq Bank, MasterCard and Canadian technology provider Swiff entered a definitive agreement.

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Keywords: Mashreq, mobile, payment, United Arab Emirates, NFC, sticker, contactless, payments , Tap n Go
Categories: Payments & Commerce
Countries: World
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