Bank Audi and MasterCard today launched the “Tap2Pay – NFC Wearables”, the first-of-its kind payment solution in the Middle East, during a press conference held at Bank Audi headquarters in Bab Idriss on Tuesday, March 31, 2015.
This modern payment solution marks a new era for credit card payments in the region as it introduces MasterCard’scontactless technology that can now be used in watches and bracelets to make small-value purchases in a secure and convenient way.
Under the umbrella of “Tap2Pay NFC series of contactless payment” launched by Bank Audi in 2013 to create a cashless society, this new development comes to complete the NFC contactless family which consists of: contactless cards, NFC mobile payment, and stickers for non NFC-enabled mobiles.
Mrs. Randa Bdeir, Group Head of e-Payment Solutions and Card Services at Bank Audi sal, seized the occasion to underline that “NFC contactless payments have a major role to play in the replacement of cash in our region. The launch of a highly innovative payment device like this watch, in partnership with MasterCard, is just one of the ways of bringing fast, convenient and secure alternatives to cash to the Lebanese market.”
Bdeir continued: “Bank Audi’s Tap2Pay NFC Wearables payment technology is revolutionary because it has the ability to change consumer behaviour. The NFC Watch and NFC Bracelet combine contactless payment convenience with a smart handy accessory, taking the payment experience to the next level. “Wearables” target sport lovers, university students, trendy people Etc. All our customers have to do is to apply for the product that fits their lifestyle best, and choose one of the available colors. They can then keep their wallet at home and put on their Watch or Bracelet to make a secure transaction at more than 3000 merchants in Lebanon, as well as at any Paypass merchant outside Lebanon.”
Mr. Michael Miebach, President, Middle East and Africa, MasterCard, said: “As the leading payment brand in the country, MasterCard recognises the importance of being at the forefront of technological change by constantly providing consumers and businesses with new, innovative payment solutions that are safe, simple and smart. There is no better market to launch these products and services than right here in Lebanon – a country often praised for its early adoption of leading-edge technology –, with our longstanding partner Bank Audi.”
Lebanon is indeed a market where the strong consumer demand for innovation in the payments industry has led Bank Audi to stay at the forefront of new technologies and provide its customers with solutions that make their lives easier.