Consumers and retailers have gradually opted to use touch-free technology to remain secure, according to Emirates NBD. Contactless payments are currently accounted for 84 % of all face-to-face card payment transactions.

Contactless payment transactions, which include contactless cards and mobile wallet-based payments, grew by 59 percent year after year in 2020 at the bank, which is a leader in digital banking. Wallet-based payments through Apple Pay, Samsung Pay, and Google Pay have doubled during this period, while card tap and go payments increased by roughly half.

Customers of Emirates NBD are constantly using their devices to make point-of-sale purchases, such as Garmin and Fitbit smartwatches and fitness trackers. The percentage of overall value transacted accounted for by contactless payments has also doubled, suggesting that consumers are becoming more and more comfortable with using contactless payment solutions for large ticket transactions.

In 2020, e-commerce transactions are expected to increase by about a fourth as compared to the previous year, according to the bank. Customers can connect their debit and credit cards to their smartphones or smartwatches to make fast and safe payments via mobile wallets, and all bank cards now accept contactless POS payments.

“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 dedicated to providing safe, stable, and frictionless payment experiences for our customers,” said Suvo Sarkar, Senior Executive Vice President and Head of Retail Banking and Wealth Management at Emirates NBD.