Forget NFC enabled phones, Mashreq Bank has introduced a new facility where credit card users can use their mobile phones – even if it means a 15 year old Nokia – to make mobile purchases.
Mashreq Bank’s Tap n Go stickers works on the NFC technology and can be stuck behind any device that a user wishes to carry. Just tapping the device on the device on any of the 4000 retail outlets accepting mobile payments across the UAE and you are ready to go.
The feature for now will only be available to Mashreq Bank credit card holders. All existing credit card holders can go online and apply for the stickers and it will be delivered for free.
Mashreq Bank will also give away free Tap n Go stickers to all new applicants.
Nimesh Dwivedi, Head of Payments at Mashreq told Emirates 24/7 that a user can set a limit for their stickers just like they set a limit for their credit card. “You can set it to may be just Dh2000. Initially any transaction less than Dh100 will not even require a signature. You can just tap and collect your product. The limit will be gradually raised following wider usage,” he said.
The feature was inaugurated at the Caribou Coffee outlet on Sheikh Zayed Road this morning. “It can definitely reduce the morning rush time at the counter. The queue will move much faster,” said Dwivedi.
Commenting on safety he said, “It just works like a credit card. In case you lose the phone or the card, all you have to do is call the bank and we will deactivate the sticker for you.”
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