DUBAI, 5th JUNE 2020
Introducing SwatchPAY! – a contactless payment solution so simple and secure that you’ll never have to reach into your pocket or bag for your wallet or phone again. Following its successful launch in several countries across Europe in 2019, the contactless payment solution is now available in the United Arab Emirates, launched in exclusive partnership with RAKBANK.
“Never has contactless payment been this popular! We are all the more excited to launch SwatchPAY! in the UAE together with our strong partners RAKBANK and Mastercard. Setting up your SwatchPAY! is as simple as it is fast and does not come at any extra costs. Thanks to its passive technology, SwatchPAY! doesn’t require a data connection or even a paired device in range, making contactless payment not only safe but also secure. And, on top, it’s a Swiss made Swatch watch.” said Bernardo Tribolet, Vice President Marketing at Swatch International.
SwatchPAY! uses the latest NFC technology embedded underneath the watch dial. To make payments, customers simply need to get the watch on their wrist close to the contactless payment terminal at the checkout counter. What’s more the SwatchPAY! watch doesn’t require batteries or charging unlike smart phones. Like all other Swatch models, the SwatchPAY! enabled watches are water-resistant to a depth of 30 meters, making it more flexible and durable than other payment methods.
Setting up SwatchPAY! is also very simple. Customers need to just purchase a watch, download the SwatchPAY! App from the Apple or Google Play store and visit the Swatch store to link their RAKBANK Credit, Debit or Prepaid Card to their SwatchPAY! App through a Bluetooth-NFC device (SwatchPAY! Box) available at the store. Customers can then pay for their purchases using SwatchPAY! at millions of locations that accept contactless payments.
“As a pioneer in innovative digital payment solutions, we at RAKBANK are delighted to be the exclusive bank in the Middle East to offer SwatchPAY! along with our existing portfolio of contactless payment solutions that allow our customers to make payments in an easy and frictionless manner. What’s more, customers can also make cardless cash withdrawals at over 170 of our contactless enabled ATMs across the UAE.” commented Frederic de Melker, Managing Director of Personal Banking at RAKBANK,
As the exclusive payments partner of RAKBANK, Mastercard will be powering transactions on SwatchPAY! ensuring a seamless and secure payment experience through Mastercard Digital Enablement Services (MDESTM); its secure and smart tokenization technology.
“In line with our commitment to work with our partners to evolve the payment ecosystem, we are delighted to have partnered up with Swatch and RAKBANK to introduce SwatchPAY! across the country. Contactless is already quite prevalent in the UAE; considering the current pandemic, we have seen an acceleration in consumer adoption. Shoppers are increasingly recognizing contactless as a safer, more hygienic, faster way to pay, especially since control over physical proximity is critical at that moment.” said Girish Nanda, General Manager, UAE and Oman, Mastercard
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