Citibank UAE and MasterCard partnered to launch contactless payment technology Tuesday for Citi MasterCard credit card holders in the United Arab Emirates.
Citi is bringing its international experience dealings in contactless payment methods to the UAE in order to expand the breadth of services offered to its UAE customers. The decision comes as Citi begins to see the UAE as one of the most technologically advanced markets in the Middle East.
Contactless payments make consumer experiences easier by letting customers simply hold their cards in front of a contactless terminal for purchases up to 100 AED. However, larger purchases still require a PIN.
“At Citi, we want to give our clients state-of-the-art technology, and one of our priorities has been revolutionizing the card payment space,” Dinesh Sharma, Citi’s Consumer Banking Head in the Middle East, said. “Payments using contactless cards are faster, more convenient and more secure. We want to create an intuitive experience that uses contactless payment technology to give our consumers a complete and interactive experience wherever they are.’’
Mastercard MENA President Raghu Malhotra says he sees his company as a leading tech company at the helm of innovation.
“As a technology company in the payments industry, we continue to drive innovation in payments in order to provide cardholders with a seamless consumer experience,” Malhotra said. “Through this partnership with Citibank UAE, we will be working together to provide cardholders with a safe and secure payment solution and take steps forward in achieving our goal of becoming a world beyond cash.”
