Saudi Cultural Week kicks off in Osaka to mark 70 years of Saudi-Japanese ties    Tourism Ministry shuts 10 unlicensed travel agencies in Riyadh    Saudi authorities arrest over 21,000 residency and labor violators in one week    Saudi graduates see record job market entry in 2024    Israeli defense minister boasts destruction of Beit Hanoun amid Gaza offensive    Von der Leyen vows to defend EU interests after Trump announces 30% tariffs    PKK lay down arms in northern Iraq in symbolic disarmament    U.S. judge blocks immigration arrests in Los Angeles over racial profiling claims    CMA approves major reforms to ease investment account access for foreign and local investors    Saudi Arabia reaffirms OPEC+ compliance as June crude supply hits 9.35 million bpd    Riyadh's Creative District to welcome Italy's Istituto Marangoni    France's Lady Liberty artwork goes viral as a new Statue of Liberty could be in the works    Saudi population reaches 35.3 million in 2024, majority under 65    Abdullah Al-Qaisoom wins silver at Asian Youth and Junior Weightlifting Championship    Aubameyang's future at Al Qadsiah in doubt after cryptic post comparing Saudi League strikers    Theo Hernández: Al Hilal can compete with Europe's best    SFDA approves 'Winrevair' for rare pulmonary hypertension treatment    HONOR returns to Esports World Cup as Official Smartphone Partner for 2025 The renewed commitment will see HONOR elevate mobile esports competition with cutting-edge AI technologies and industry-leading hardware    Michael Madsen, actor of 'Kill Bill' and 'Reservoir Dogs' fame, dead at 67    BTS are back: K-pop band confirm new album and tour    Sholay: Bollywood epic roars back to big screen after 50 years with new ending    Ministry launches online booking for slaughterhouses on eve of Eid Al-Adha    Shah Rukh Khan makes Met Gala debut in Sabyasachi    Pakistani star's Bollywood return excites fans and riles far right    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Rise in mobile payment fueled by NFC-enabled mobile devices
Published in The Saudi Gazette on 18 - 07 - 2012

Example of making a payment with a Near Field Communications-enabled mobile phone.MAKING payments with a Near Field Communications (NFC) enabled mobile phone is expected to grow significantly as mobile technologies become more advanced and the infrastructure to support NFC payments falls into place.
NFC technology is increasingly being adopted by payment networks, banks, merchants, mobile device manufacturers and mobile network operators as the global standard for mobile payments. This year, analysts anticipate that smart phone shipments will grow by over 38.6 percent year-on-year, reflecting the increasingly interactive relationship consumers have with their phones.
"NFC technology is transforming mobile phones into payment devices that will change the way people live, work and play," said said Niki Manby, Head of Emerging Products for Visa Asia Pacific, Central Europe, Middle East and Africa (APCEMEA), "NFC payments has enormous potential and we are committed to providing the convenience of this technology in a secure manner to our customers."
There is an undeniable demand for contactless transactions using the mobile phone. Juniper Research predicts that NFC mobile payments are set to exceed $180 billion worldwide in 2017. Visa is committed to enabling more consumers to make payments from their phones to a contactless terminal securely and efficiently. Visa has played a leadership role in establishing global standards for mobile payments by making sure that they are aligned with existing technology and security standards for chip payment cards, and can be integrated easily into the existing payments ecosystem.
In the Middle East, Visa has worked closely with mobile network operators, handset manufacturers and financial institutions, merchants and technology providers to develop and commercialize mobile payments and related services.
In Kuwait, for example, Visa partnered with National Bank of Kuwait (NBK) and Zain to deliver the region's first NFC mobile payment trial, in a move that gave up to 350 NBK Visa cardholders the convenience and security of paying for their purchases using Visa PayWave on their Nokia 6212 phones at over 70 merchant partner outlets in The Avenues, Kuwait's largest mall.
In the UAE meanwhile, Visa is working together with leading industry players Etisalat and Emirates NBD on a mobile contactless technology trial, enabling Emirates NBD Visa cardholders to purchase goods and services with their NFC-enabled mobile phones, with purchases charged directly to the customer's Emirates NBD Visa credit card account. – SG


Clic here to read the story from its source.