Introduction
UnionPay International (UPI), a global payment network, has recently joined forces with Abu Dhabi Islamic Bank (ADIB), one of the largest banks in the United Arab Emirates (UAE), to broaden the accessibility and functionality of UnionPay card and contactless payments across the region. This strategic partnership aims to enhance the payment experience for consumers by leveraging ADIB's expansive network of near field communications (NFC) terminals across the UAE.
Elevating the Contactless Payment Experience
The collaboration between UnionPay International and ADIB signifies a monumental step towards modernizing the payment infrastructure in the UAE. By enabling UnionPay card and contactless payment transactions on ADIB's 15,000 NFC terminals, consumers are poised to enjoy a seamless and more secure payment process across various industries and services including hospitals, hotels, government sectors, supermarkets, and many more.
In an effort to promote contactless payments as a safer alternative during the COVID-19 pandemic, UnionPay International has been advocating for contactless and online payment solutions not only in the UAE but globally. The aim is to safeguard consumers during transactions by minimizing physical contact at the checkout.
Contactless Payment Limit Increase
To further encourage the adoption of contactless payments amid the pandemic, the limit for contactless payments via UnionPay chip cards and Mobile QuickPass interfaces such as Apple Pay and Huawei Pay, has been elevated to AED500. This adjustment is designed to foster wider usage of contactless payments, thereby reducing the risk of virus transmission.
Supporting Local Merchants
Understanding the financial strains caused by the pandemic on local merchants, UnionPay International has implemented policies to alleviate these pressures. Among these measures is the extension of the chargeback window, providing merchants with greater flexibility during these challenging times.
Conclusion
The partnership between UnionPay International and Abu Dhabi Islamic Bank is set to revolutionize the payment landscape in the UAE, offering consumers a faster, safer, and more convenient way to transact. As UnionPay International continues to spearhead innovations in the payment industry, its commitment to expanding contactless payment solutions plays a pivotal role in shaping the future of transactions, both in the UAE and globally.
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