Emirates NBD to launch next-generation mobile payment solution – MoneyMobile

Emirates National Bank of Dubai announced today the launch of the “MoneyMobile,” a contactless payment solution that will enable customers to pay for purchases with a single wave of their contactless mobile device.

Today’s announcement follows the recent roll-out of an (Near Field Communication) NFC-branded mobile device, among select staff at Emirates NBD, Etisalat, Visa and Gemalto, who will be testing the device during this initial phase.

With MoneyMobile, users will be able to complete retail transactions by waving their NFC mobile phone at Visa payWave terminals, providing a secure, fast and easy way to pay for everyday purchases.

“Emirates NBD is delighted to introduce this exciting new technology, which is in line with our role as the leading provider of next-generation banking solutions for customers,” said R. Sivaram, Senior Vice President and Head of Cards Business, Emirates NBD. “During this phase, working in partnership with our valued partners Etisalat, Visa and Gemalto, we will gain valuable insights into the customer experience, which we will incorporate into this offering before the wider consumer launch that will be the next phase.”

“Offering multiple levels of security, the MoneyMobile solution clearly represents the retail experience of the future,” R.Sivaram continued. “As we move towards a world of contactless solutions that make shopping easier than ever before, Emirates NBD will continue to stand at the forefront of innovation.” “The introduction of Mobile NFC services is a great way to simplify the consumer payment experience, due to its ease of use and convenience,” said Marwan Al Qadi, Acting Senior Director, Electronic and Mobile Commerce, Etisalat. “Etisalat has always been a pioneer in introducing the latest technology catered to meet our customers’ ever-changing lifestyles. We are excited at this opportunity to work with a dynamic and progressive partner like Emirates NBD, to revolutionize the consumer payment experience here in the UAE.”

Kamran Siddiqi, General Manager, Visa Middle East, added: “Mobile payments are quickly becoming the way of the future as the widespread adoption of mobile technology changes how people connect with each other. As one of the market leaders in the provision of payment solutions, Visa is committed to accelerating the global shift towards electronic payments and has a long track record of creating innovative solutions that meet the ever-changing needs of consumers. That’s why we’re so delighted to be partnering with Emirates NBD and Etisalat to develop this exciting initiative in the UAE. Users will enjoy the ease and convenience of simply scanning their phone to pay as they breeze through the checkout in stores where they see the Visa payWave sign,” Siddiqi added.

“Gemalto’s ‘Trusted Services Management’ services allow for the secure deployment and management of contactless mobile payment,” added Jean-Claude Deturche, Senior Vice President, Mobile Financial Services at Gemalto. “Gemalto will dedicate its global experience in NFC solutions to supporting Etisalat and Emirates NBD in achieving success in this innovative business proposition. This new service promises to revolutionize the payment, retail and mobile ecosystems, whilst enhancing the shopping experience and bringing enormous benefits to consumers and merchants.”

Press Release