RAKBANK and UnionPay International have launched a partnership to accelerate contactless mobile payments in the UAE. RAKBANK has enabled all of their terminals to accept UnionPay contactless payments, allowing cardholders to utilize their mobile wallet, such as ApplePay, mobile banking APP, or contactless cards. The collaboration will dramatically enhance the region's acceptance touch points and make the UAE the first major market outside of Mainland China that is totally contactless ready. UnionPay cards visiting the UAE as well as UnionPay cardholders living in the UAE will benefit from the contactless payment solution.
RAKBANK, one of the UAE's major acquirers, has connected with UnionPay's powerful network and innovative payment technology to give UnionPay card payment acceptance to RAKBANK's merchants through this relationship. This collaboration will also help the UAE achieve its goal of becoming the region's first cashless society, as well as improve the country's frictionless payment experience.
Shehzad Hameed, MD of Retail Banking at RAKBANK commented: "At RAKBANK, our customers are at the heart of everything we do. This partnership with UnionPay aligns perfectly with our mission to provide a seamless customer experience. We understand the importance of a secure and user-friendly payment option, and through this collaboration, we aim to offer our customers unrivaled convenience and peace of mind. This strategic partnership represents a significant step forward in the financial services industry in the UAE, and we are thrilled to be at the forefront of this digital evolution. We look forward to the successful implementation of contactless payment services in collaboration with UnionPay and anticipate the positive impact it will have on our customers' daily lives."