Tag: Digital Wallet

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

Why Businesses Need Digital Payments

Since the 70s brought computers under mass ownership, the process of electronic payments has become quite popular. Though previously, these weren’t as systemic and organizational as they are right now, there’s no denying that electronic funds transfer brings with it a lot of ease and convenience.

Payit Celebrates 2021 Best Neobank and Best Innovation in User Experience Awards

Payit, the UAE’s fully digital mobile wallet, celebrates two awards provided by MEA Finance Banking Technology Summit & Awards 2021.  On the 28th of May, 2021, Payit won two awards during an in-person ceremony attended by payit representatives. Payit was awarded Best Neobank Award and Best Innovation in User Experience. The awards are a testament to

How Can Your Business Benefit From Using A Mobile Wallet Over Mobile Banking?

A few years ago, people treated the idea of a digital wallet as one bound to fail. No one was willing to put their money in the hands of this completely foreign idea, especially when you could just use your credit card to make payments just as easily.