The United Arab Emirates will soon ban payment cards and replace them with a more advanced system.
What about payments made using a card? Soon, all you have to do to make purchases is wave your palm.
The UAE will soon offer the Palm Pay payment system for free.
In the near future, the United Arab Emirates will provide the Palm Pay payment system at no cost.
Users will have free access to Palm Pay, which will roll out gradually throughout 2024.
Soon, you will be able to pay for your goods at stores all throughout the United Arab Emirates by simply placing your palm in front of the machines. After you have finished shopping, you will no longer be required to swipe your bank cards or phones at the cash register.
"We plan to gradually roll out the Palm Pay technology throughout the entirety of 2024," stated Abdallah Abu Sheikh, the founder of the technology development business Astra Tech, in an interview with Khaleej Times. The corporation introduced the payment option at the Dubai Fintech Summit through its subsidiary, PayBy, a financial technology company.
Palm Pay, a contactless payment system, utilizes biometric authentication methods to facilitate payments. In order to verify the legitimacy of transactions, payment terminals will read the palm prints of customers.
We currently have a specific number of machines that we will use for testing purposes within the local market's infrastructure. "This will ensure that we are completely ready to scale to over 50,000 PayBy merchants throughout the course of the year," Sheikh said. We are now working to smooth out the final details to ensure the smooth implementation of Palm Pay this year.
The company is investigating the possibility of linking the technology with financial institutions, which would allow users to immediately link their accounts with it "in the future."
How can I subscribe to the Palm Pay payment service in the Emirates?
In the Emirates, what are the steps I need to take to sign up for the Palm Pay payment service?
The users will not be required to pay for the technology. During the first phase of the project, users will be able to register themselves using the gadget itself at the point of sale. In the future, we will integrate the palm authentication process into apps like PayBy and Botim, enabling consumers to effortlessly update their accounts using their palm prints through an authentication feature on their phone. This will function in the same way that the facial recognition authentication process operates today.
"They will then be able to use the Palm Pay technology for payments by simply waving their palms at all merchants that adopt this innovative technology, providing immediate access and convenience," added Sheikh. "This will allow them to make payments whenever they want, wherever they want."
According to the business, the technology provides a more secure alternative to conventional card payments, as well as other payment methods.
