eMoney News

UAE consumers 'open' to new e-money payments
23 Feb 2012

Consumers in the United Arab Emirates (UAE) are open to the concept of e-money payments as they already embrace other forms of new technology, according to MasterCard.

Speaking with Gulf News, Ann Cairns, president of international markets at MasterCard Worldwide, revealed that the firm is rolling out new payment methods across the country in markets where cash is still predominantly used for transactions.

"We think there are some things that consumers would naturally use their card products or their phones for, such as [buying] petrol, that aren't here in the market right now," she told the news provider.

"We think that anything we bring would just make it more convenient for consumers here. And because of the level of sophistication of this market, we think people would adopt it."

Ms Cairns added that UAE residents' propensity to travel also makes them more open minded about new technology as they encounter different services abroad.

Last October, MasterCard signed a deal with etisalat and Blackberry maker RIM to develop a smartphone-based payment system.

Bookmark and Share
sQuid alternative payment network is protected