Lebanon-based Bank Audi has partnered with MasterCard to launch a new payment solution called Tap2Pay – NFC Wearables in the Middle East.
The new solution, which marks a new era for credit card payments in the region, follows the launch of MasterCard’s contactless technology used in devices such as watches and bracelets to make small-value purchases in a secure and convenient way.
The new offering aims to complete the NFC contactless family which consists of contactless cards, NFC mobile payment, and stickers for non NFC-enabled mobiles.
Bank Audi said that the new product comes under the umbrella of ‘Tap2Pay NFC series of contactless payment’ that was launched by Bank Audi in 2013 to create a cashless society.
Bank Audi group head of e-payment solutions and card services Randa Bdeir said: "The launch of a highly innovative payment device like this watch, in partnership with MasterCard, is just one of the ways of bringing fast, convenient and secure alternatives to cash to the Lebanese market.
"Bank Audi’s Tap2Pay NFC Wearables payment technology is revolutionary because it has the ability to change consumer behaviour. They can then keep their wallet at home and put on their Watch or Bracelet to make a secure transaction at more than 3,000 merchants in Lebanon, as well as at any Paypass merchant outside Lebanon."