UAE: Emirates NBD customers to receive early access to Samsung Pay early

Emirates NBD, one of the largest banks in the UAE, has announced a new partnership with Samsung, which will see the bank’s customers gain early access to Samsung Pay. Samsung smartphone owners, who are also Emirates NBD customers, will be able to connect their Emirates NBD payment cards to selected Samsung devices, allowing them to make mobile payments almost everywhere cards are accepted. The mobile payments market in the UAE is currently very small, with only 2% of consumers having used mobile wallets in the last 12 months, according to RFi Group UAE Priority & Retail Banking council data from the second half of 2016, but the launch of Samsung Pay if likely to see this figure increase.

Commenting on the partnership, Mohammad Gharaibeh, Head of IT and Mobile (B2B) division at Samsung Gulf Electronics said, “Samsung Pay is set to revolutionize the shopping experience for Middle East consumers by offering them an easy and convenient method of making purchases and payments securely through their smartphone. Partnering with leading bank, Emirates NBD enables us to further amplify our service in the region and further expand the digital payment landscape for their customers.”

Unlike most other mobile wallets, Samsung Pay uses both NFC (Near Field Communication) technology as well as MST (Magnetic Secure Technology) which allows it to make contactless payments using terminals that do not have NFC contactless capabilities, which contactless cards use.

Unlike most other mobile wallets, Samsung Pay uses both NFC (Near Field Communication) technology as well as MST (Magnetic Secure Technology) which allows it to make contactless payments using terminals that do not have NFC contactless capabilities, which contactless cards use. It is this technology that allows Samsung Pay to work in most locations that cards are accepted.

Opinion Poll
Thanks for your vote! Please see the results below and see how yours stacks up.
Costs of fees and charges
42%
58 votes
Competitiveness of interest rates
40%
55 votes
Convenience of branches and ATMs
16%
22 votes
Brand recognition
3%
4 votes
Total votes
139
map4
Subscribe to receive insights delivered straight to your inbox
Latest news, unbiased expert analysis and insights across banking and finance