Tag: Digital Wallet

Digital Payments: How Mobile Wallets Boost the Growth of Your Small Business?

As per the survey conducted by Visa, 82% of small and medium business owners responded to using more digital payment options, including mobile wallets, to offer their customers simple and secure payment methods.
In fact, nearly 60% of these small business owners replied they would only use digital wallets to accept payments. However, this shift in trends has primarily occurred among large businesses that have the means to provide customers with various payment options.
So, let’s dive deep into what mobile wallets are and how they help you grow your small business.

5 Reasons to Use Payit for School Fees Payment

While more than 50% of UAE consumers want to go cashless by 2024, they have already started their march towards using digital wallets for various payments. Consumers demand faster, safer, and more convenient (simple-to-use) payment options and, most importantly, contactless payment methods.

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.

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.

What Are The Benefits Of a Mobile Wallet Over Mobile Banking?

The modern world has produced innovative ideas to make transactions quicker and easier for the average consumer. This has been done by introducing various payment services such as mobile wallets and mobile banking. Mobile wallets, such as payit, can be used anywhere that accepts cash or credit.

Having A Digital Wallet Vs. A Regular Online Bank Account

Table of Contents   Thanks to technology, a completely cashless society is no longer a pipe dream. payit is created to ensure that the UAE eventually becomes an entirely cashless society. However, for a lot of people, the concept of a wholly cashless society looks pretty daunting. Many don’t even understand what a digital wallet