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Contactless e-money solutions set to grow in UAE
19 Oct 2010

Contactless e-money solutions will be as popular in the United Arab Emirates (UAE) as "any part of the world" within two years, it has been claimed.

Despite major firms such as HSBC, Visa, MasterCard and regional bank Emirates NBD all offering contactless bank cards, the technology has yet to be adopted by the majority of UAE residents.

R Sivaram, senior vice-president and cards business head at Emirates NBD, claimed many countries have successfully introduced consumers to the technology through public transportation networks.

He told Gulf News: "In the UAE, the Metro is a very recent phenomenon and as the popularity of the network grows, the public at large will be more exposed to contactless technology in general.

"We believe in a couple of years, the use of contactless technology in the UAE will be as prevalent as in any part of the world."

Mr Sivaram added that retailers still need to be educated and made aware of the benefits of contactless technology.