Around 1.7 million people (32% of the total population) in the UAE are unbanked, earning approximately AED 2,494 per month (~ $679) as per the data released by the UAE Federal Competitiveness and Statistics Authority.
While digitization is happening across most sectors such as banking, telecommunications, health, etc., educational institutes and schools are also not behind the race. The concept of homeschooling and smart learning are emerging as we see new transformations in the academic industry.
One of the major drivers for the United Arab Emirates (UAE) consumers to turn more digital about payments is the global pandemic. People started adopting digital ways (e-wallets, payment links, etc.) to make payments and money transfers.
NFC (Near Field Communication) is a comparatively short wireless networking technology based on standards that are increasingly being used in consumer and professional electronics, notably for integrating mobile devices as a way of sharing digital content. Users can use Near Field Communication (NFC) technology to make secure transactions, share digital data and content, and connect electronic devices with a single tap. NFC broadcasts have a small range (from a few centimeters to a few inches) and require the devices to be close together.
The popularity of digital wallets has increased significantly over the past few years. Digital wallets are now a common tool for day-to-day transactions because of their friendliness, convenience, ease of use, and security.
Have you ever used a digital wallet? If you have used it, do you think it is better than debit or credit cards? With the growing popularity of mobile wallets, traditional credit/debit cards are being taken over by this new invention.
Digital wallets are a great innovation that is shaking up the world of banking. It has brought to the table many new features that make it stand out compared to traditional cards. It has led to the growth of contactless payments in the UAE, which now accounts for 13% of the total payments as a key player, compared to the initial 10%.
However, nothing has a hundred percent efficiency, and digital wallets are no exception. They have some downsides that credit/debit cards might cover. So let us look at using digital wallets vs bank cards Pros and Cons.
We live in a fast-paced, highly digitized world. Information and data move faster than ever before thanks to the advent of modern technology, particularly the internet.
While there certainly are some criticisms concerning the internet, there’s no denying that it’s made life significantly simpler for all of us. Special needs individuals, in particular, can testify to this.
QR codes and sound-based payment systems are two recent technologies that have entered the public sphere. Even though they are being widely used to make transactions all over the world, not many people know about them or how they work.
If you want to know more about QR codes and sound-based payment systems, keep reading.
As one of the fastest-growing eCommerce markets, the UAE’s eCommerce market is expected to grow to $9.2 billion by 2026. In this highly competitive market, online businesses must find ways to stand strong and make sustainable growth.
As the world moves towards a more digital financial state, making payments and transactions is becoming easier than ever before! One such field that’s looking to take advantage of advancements in digital payment technology is the telecom field.
Here, we will talk about one of the two most significant telecommunication companies in the UAE, and how it took the advantage to let you top-up or pay your mobile bill in various ways which are easy to use through some tips that you can follow to make Du recharge rapidly so you can save money and quickly pay Du.