This mobile payments solution uses near field communication (NFC) technology to enable consumers to conduct everyday transactions with a tap of their smartphone.
Currently there are 2,100 contactless terminals across Lebanon that have the capacity to accept NFC payments available at a number of locations including supermarkets, retail stores, gas stations, restaurants, theatres and tourist attractions.
To pay using the new Tap2Pay service, Bank Audi customers holding an NFC-enabled smartphone will need to tap their phones at any MasterCard contactless point-of-sale (POS) and the purchase is made.
The user interface which is developed by Gemalto for Touch SIM cards and by Oberthur Technologies for Alfa SIM cards ise set to allow cardholders to pay with their NFC enabled mobile phones, check their transactions history and change their passwords.
In recent news, MasterCard has entered into an agreement to acquire C-SAM, a provider of secure mobile transactions technology offering a range of mobile-based applications for financial institutions, retailers and mobile network operators that incorporate near field communication (NFC), quick response (QR), online, remote, coupons.
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