Tag: Cashless Payments

How is Metaverse Redefining the Future of Digital Payments in the UAE?

Index Just as technology plays an essential role in the virtual world, payments are another crucial part. While it is paramount to offer a seamless user experience through the metaverse, virtual assets will have to be transferred using virtual currency. But are we future-ready to experience the metaverse with digital currency? Which digital payment methods

Digital Currency in the UAE: Way to Becoming a Global Cryptocurrency Hub

Index The United Arab Emirates (UAE) is the third largest crypto market in the world as per Chainalysis in October 2021. While the Middle East makes 7% of the global trading volume for cryptocurrency markets, UAE, among all, runs an extra mile toward becoming a global digital asset hub.  But, what is so special about

Digital Payment Methods Enabling Financial Inclusion for the Unbanked in the UAE

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.

The Future of Digital Payments In UAE – 5 Key Trends of 2022

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.

Enjoy Seamless Verifications and Transactions with Our Leveraged NFC Technology

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.

Can Digital Wallets Completely Replace Cash Or Cards One Day?

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.

Using Digital Wallets Vs. Bank Cards Pros and Cons

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.

How Online Payments Became a Great Advantage for Special Needs People

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.

Facts Everyone Should Know About QR And Sound Payments In UAE

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.

Why Does payit Digital Wallet Become Your Primary Way to Make Payments?

Despite the advent of digital wallets, we haven’t completely replaced credit or debit cards or even traditional cash. We still use them to pay utility bills, make online and in-store purchases, make payments for restaurants, hospitals, schools, and so on.