Commuters who make use of the airport taxis in Abu Dhabi will now be able to use credit cards to pay their fare, according to a statement that was released on Monday by the Integrated Transport Centre. The move to allow airport taxis to be paid for by credit card, such as those from Samsung Pay and Apple, is part of a number of initiatives being made by the Abu Dhabi transport sector regulator in…
On Sunday, police in Dubai issued a new alert to residents to keep themselves protected from scammers and to avoid sharing their Personal Identification Number (PIN) and debit or credit card numbers. On their official account on Twitter, Dubai Police warned residents not to be fooled by new scams that attempt to trick them out of money with fraudulent prizes. Digital platforms have made it considerably simpler for users to communicate and spread information all…
Network International, in which Emirates NBD now holds a 25% stake following its Initial Public Offering, has posted a double-digit increase in revenue despite a fall in profit from continued operations because of the one time cost resulting from the primary offering. The company’s revenues in the first half of 2019 amounted to $152m through to the end of June in comparison to the $135m that was generated in the same time period in 2018.…
Payments provider Network International said on Thursday that a new $35m (Dh129m) deal with Mastercard will support the “development of new products and solutions” in the Middle East and pave the way for better digital experiences and options for credit card customers in the UAE. Network International revealed details about the new agreement with Mastercard alongside its latest corporate report, which showed that overall revenues for the company jumped 12.4% to $152.35m during the first…
The launch of a credit card remittance service has been announced by Mashreq Bank, which is based in Dubai. The service will enable customers to make use of their credit cards in order to make money transfers instantaneously to all banks within Pakistan and India, with zero cash advance charges and no fees. The brand-new service can be accessed by customers by making use of Snapp, Mashreq’s mobile banking app, and is intended to make…
Attempts to flee the country without paying credit card debts may be futile according to experts, who have warned UAE residents that outstanding balances are likely to increase even more during a period out of the country due to compound interest and a flurry of late fees. While residents can now compare a number of affordable credit card options online, many still struggle to meet regular payments and debts can grow significantly if a person…
The Central Bank of the UAE lowered interest rates by 25 basis points, effective from 1st August, in a move that could bring down the costs of borrowing, enabling loans to be more affordable. However, financial analysts believe that the intervention will not have notable repercussions on the overall health of consumer finances. The UAE’s banking regulator lowered interest rates in an effort to adhere to the US Federal Reserve, which recently announced its first…