Mashreq revolutionises and simplifies mobile payments with Tap n Go

Continuing its innovation stride and complementing the Bank's many technology-led achievements, UAE's financial institution Mashreq pioneers another UAE first with the launch of Tap n Go. This is the country's first NFC (Near Field Communication) Sticker solution and is set to redefine the world of mobile payments. The Tap n Go Sticker makes low-value purchases exceedingly simple by converting any mobile phone of any generation into a credit card that can then be used to make contactless payments at thousands of retail outlets in the UAE and abroad. The newly launched Tap n Go is already accepted at over 4000 merchants and growing in the UAE. Farhad Irani, Head of Retail Banking Group, Mashreq commented, " Today spells the first day in the demise of the credit card as we know it in its plastic avatar here in the GCC if not in the EMEA region. A first of its kind created to deliver delightful convenience and enhanced control with just a tap of the phone. No signature, No pin, No paper! I wish every citizen of the UAE many smart and happy moments with Mashreq's Tap and Go revolution." The Sticker is powered by the latest NFC technology that helps it to communicate wirelessly and securely with payment terminals, allowing transactions to be processed instantly. Simply fix the Sticker to your phone and it is ready for use, exactly like a credit card. All purchases less than AED 100 require no signature. The latest innovation was launched in a press conference held at Caribou Caf?, one of the many locations where Tap n Go will be accepted. Speaking at the launch, Nimish Dwivedi, Head of Payments at Mashreq said, "Our aim is to simplify and make mobile payments extremely accessible. The challenge today is the complexity of existing mobile payment solutions that compulsorily require the customer to have a smart phone, download a mobile app, link a funding source etc. Mashreq removes all this complexity through this unique Tap n Go Sticker. Whether you're buying groceries, cinema tickets or even a cup of coffee, just tap your phone on the terminal to make payments less than AED 100 instantly and securely. No swiping. No signing. No waiting. Just Tap n Go."