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Visa Tap to Phone Adoption Soars – 490% Year-over-Year Growth in the UAE

Visa Tap to Phone Adoption Soars – 490% Year-over-Year Growth in the UAE. In today’s fast-paced digital economy, seamless, secure, and mobile payment solutions have become essential for businesses and consumers alike. Visa’s Tap to Phone technology has revolutionized the way businesses accept contactless payments, empowering merchants of all sizes to transform their smartphones into Point-of-Sale (POS) devices. This innovation is particularly significant in the UAE, where Tap to Phone adoption has surged by an impressive 490% year-over-year, demonstrating its growing acceptance and widespread benefits.

What is Tap to Phone and How Does It Work?

Visa’s Tap to Phone technology eliminates the need for traditional payment terminals, allowing businesses to accept contactless card payments through their NFC-enabled smartphones. This advancement provides an affordable, accessible, and secure payment solution for micro-sellers, small and medium-sized businesses (SMBs), and large enterprises alike. With just a simple app download, merchants can turn their mobile devices into a powerful payment tool, reducing operational costs and streamlining transactions.

Driving Growth and Financial Inclusion

The UAE’s strong commitment to digital transformation has been a major factor in the exponential growth of Visa Tap to Phone adoption. As the region pushes forward with its cashless economy goals, businesses across industries—from retail and food services to logistics and on-the-go vendors—are leveraging this cutting-edge technology to facilitate faster, safer, and more convenient transactions.

According to Salima Gutieva, Visa’s Vice President and Country Manager for UAE, “Tap to Phone is a game-changer for small and medium-sized businesses, offering them a secure, cost-effective way to access the digital economy. We are constantly innovating to expand our tap capabilities and create the best payment experiences for people and businesses. The significant growth in adoption is a testament to the technology’s impact and potential.”

Empowering Businesses of All Sizes

Visa’s Tap to Phone technology is not just about convenience; it’s about fostering business growth and enhancing customer experience. From small street vendors and market stalls to established retailers, this solution allows businesses to accept payments effortlessly, leading to a seamless checkout experience for customers. Business owners report increased confidence, efficiency, and accelerated revenue growth thanks to the ease and accessibility of Tap to Phone.

Global Success Stories

The impact of Tap to Phone is being felt globally. For instance:

In Ukraine, leading courier service NovaPost has adopted Tap to Phone, with 80% of all digital transactions now processed through the solution.
In South Africa, Visa’s partner iKhokha has leveraged Tap to Phone, resulting in a 50% increase in transactions within just six months.
The UAE, with its forward-thinking approach to fintech, has become one of the fastest-growing markets for this technology, reinforcing the shift towards a truly digital-first economy.

Future of Tap to Phone Technology

The growth trajectory of Tap to Phone is expected to continue, with new innovations expanding its capabilities. Visa is at the forefront of digital payment advancements, introducing solutions like:

Tap to Add Card

With Tap to Add Card, users can now add their credit or debit cards to a digital wallet simply by tapping the card on their smartphone. This feature, launched globally with Apple Pay in September 2024, is rapidly gaining traction, enabling millions of tokens for over 100 issuers. The result? Higher authorization rates and reduced fraud risks, making digital transactions more secure and efficient than ever before.

Tap to Confirm

Another significant advancement, Tap to Confirm, allows consumers to authenticate high-value transfers securely and quickly. This feature will soon be available across Central and Eastern Europe, the Middle East, and Africa (CEMEA), ensuring a smooth and hassle-free payment experience.

Leading the Future of Digital Payments

As a global leader in digital payments, Visa continues to drive innovation, facilitating over 215 billion payment transactions annually across 200+ countries and territories. The company’s vision is to create an inclusive, seamless, and secure financial ecosystem, where businesses and individuals thrive in a world that is increasingly shifting towards cashless transactions.

Visa’s Tap to Phone technology is a testament to this vision, offering businesses and consumers an efficient, cost-effective, and highly secure way to engage in digital commerce. With the UAE embracing cutting-edge financial technologies, Visa remains at the forefront of this transformation, ensuring that businesses of all sizes can seamlessly adapt to the future of payments.

Conclusion

The UAE’s rapid adoption of Tap to Phone technology, with a staggering 490% growth rate, highlights the country’s commitment to digital payment solutions. As more businesses and consumers recognize the benefits of contactless transactions, Visa’s Tap to Phone continues to pave the way for a cashless, efficient, and financially inclusive future.