SaudiArabiaPR.com, Online Press Release from Saudi Arabia,Riyadh, Jeddah, Dammam, Meccca and Medina
 
Banking & Insurance(Banking & Investments)
Filter PR by
  
Apple Pay now available to Visa cardholders in Saudi Arabia
Apple Pay now available to Visa cardholders  in Saudi Arabia

Transforming mobile payments with an easy, secure, and private way to pay

Riyadh, Saudi Arabia; 19 February 2019:  Visa (NYSE:V), the world’s leader in digital payments, today brings Apple Pay to its Saudi-based cardholders. Apple Pay allows prepaid, debit and credit cardholders to make easy, quick and secure purchases using their iPhone and Apple Watch in stores that accept contactless payments. Visa cardholders can also make payments with Apple Pay in-app or on the web.

Apple Pay will allow Visa cardholders across the Kingdom to make payments using their Apple devices while ensuring that their financial details are private and secure. Security and privacy are at the core of Apple Pay. When you use a credit or debit card with Apple Pay, the actual card numbers are not stored on the device, nor on Apple servers. Instead, a unique Device Account Number is assigned, encrypted and securely stored in the Secure Element on your device.

Each transaction is authorized with a one-time unique dynamic security code. 

According to “Contactless & ‘the Pays’: the catalyst for digital payments growth,” research by Visa Consulting and Analytics, millennials account for 40% of the Kingdom’s population, with smartphone penetration levels reaching nearly 74% overall. There is an overall desire to try new solutions, with 80% of respondents stating that they have performed a contactless transaction and were open to do so again. 

Commenting on the launch, Ali Bailoun, Visa’s General Manager for Kingdom of Saudi Arabia, said: “Mobile payments are becoming an ever-present part of consumers’ lives.

In today’s world, people expect speed and convenience without security being compromised — an approach that Visa embodies.  As a country filled with tech-savvy, mobile-first consumers, we are delighted to work with Saudi Payments and our bank partners to help bring Apple Pay to Visa cardholders here, making their payments experience easier, faster and more secure than ever before.

This launch also aligns with one of the goals of Vision 2030 of creating a cashless society, and we enthusiastically welcome Apple Pay to the market and are excited to help Saudi Arabia usher in this new era of payments.”

Ziad Al Yousef, Managing Director of Saudi Payments, said: “We are pleased to bring Apple Pay to the Kingdom to help drive the continuing evolution of Saudi Arabia’s payments landscape.

This technology offers consumers a hassle-free and unique contactless payment experience, making it an attractive option for Saudi consumers looking for quick and secure ways to pay.

It represents an important step forward in the realization of the ambitious goals set by the Financial Sector Development Program to achieve the kingdom's vision 2030 cashless society targets.”

Posted by : Saudi Arabia,Riyadh, Jeddah, Dammam, Meccca and Medina PR Network Editorial Team
Viewed 2987 times
PR Category : Banking & Investments
Posted on : Wednesday, February 20, 2019  3:10:00 PM UAE local time (GMT+4)
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories

 
 
Most Viewed Press Release posted in the last 7 days
Cerruti 1881' [22394-Views]
Let Your Style Roar [17896-Views]
Ink Your Lips This Summer With Artist Rouge Ink, Make Up for Ever's New Airlightlip Color [17245-Views]
Festival of Speed Celebrates Aston Martin's Racing History [14666-Views]
Sports Collection - Autumn Winter 2019 [12501-Views]
Aston Martin Valkyrie Wows Crowds on Public Debut at Silverstone [11090-Views]
Ralph Lauren at The Championships, Wimbledon – Sunday 14th July [10890-Views]
Versus Mouffetard [10795-Views]
Siemens to supply power equipment and services for 840 MW power plant in Iraq [9992-Views]
Saudi Arabia's Ministry of Energy, Industry and Mineral Resources signs a contract announcing major ... [7573-Views]
IHG signs world's largest voco with Maad International in Saudi Arabia [5297-Views]
The World's Richest Horse Race to run in Saudi Arabia [5158-Views]
Star Alliance members, Turkish Airlines and LOT Polish Airlines expanded their codeshare network. [4973-Views]
Inventive, Futuristic and Daring Translucent is a Distinguished Milestone for Police. [4867-Views]
dnata's DUBZ checks in passengers for flights in The Dubai Mall [4592-Views]
Redtag's Ramadan Bonanza Winners [4572-Views]
Silah Gulf is Official Customer Experience Partner of the Saudi Emerging Technologies Forum [3600-Views]
Residents in the UAE and KSA say their favourite childhood memories are from family road trips [3120-Views]
Al Diyafa and its sister companies to consolidate Middle East market presence via Bidfood rebranding [2243-Views]
Trend Micro Enables Saudi Youth Job Creation to Support SAR 22 Billion IT Market Growth [2198-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories