Emirates NBD, a specialist banking group in the MENAT (Middle East, North Africa and Turkey) region, has reported that contactless payments now make up 84% of all face-to-face card payment transactions.
It comes as consumers and merchants have increasingly switched to use touch-free technologies to stay safe during the COVID-19 outbreak.
According to the specialist digital bank, contactless payment transactions, which include contactless card and mobile wallet-based payments, increased by 59% year-on-year in 2020.
Suvo Sarkar, Senior Executive Vice President and Head of Retail Banking and Wealth Management, Emirates NBD, commented: “Consumers and merchants are increasingly using touch-free technologies as part of precautions to prevent the spread of COVID-19. Emirates NBD has been an early mover in enabling a wide range of contactless card and mobile wallet-based payment options for our clients and we remain committed to providing safe, secure, and frictionless payment experiences for our customers.”
Mobile wallet-based payments using Apple Pay, Samsung Pay, and Google Pay more than doubled during the period, while card tap and go-based payments increased by about half.
The substantial growth of contactless payments has been replicated worldwide, with consumers all over the globe shifting habits as they seek to combat the spread of the pandemic.