Connect with us

News

Global Contactless Payment Card Issuance will go Above the 2 Billion Mark in 2020

Published

on

An additional 110 million contactless payment cards expected to be issued in 2020, when compared to pre-COVID-19 forecast expectations

According to Tech market advisory firm, ABI Research, COVID-19 is expected to have a profound effect on the payment cards market. Contactless is considered the more hygienic and safe way of making proximity payments, and this is being reinforced by ecosystem players who are shifting marketing messages from contactless transactions used to increase convenience levels toward safety and health. Globally, contactless adoption will increase between +6% to +8% when compared to pre-COVID-19 expectations, with the issuance levels forecast to grow by 14% YoY, accounting for more than 65% of all cards issued in 2020 .

“Although the overarching trend toward contactless was well in place prior, COVID-19 will further increase the speed of contactless adoption, particularly within countries and economies where cash remains king, and usage not only being encouraged by payment ecosystem players and suppliers but also by governments and health organizations including the WHO,” explains Phil Sealy, Research Director at ABI Research.

“The way people pay for things is rapidly evolving and changing. COVID-19 has driven a significant shift in consumer spending habits spurred by economic uncertainly and a push toward the purchase of mainly essential items. There is also a surge in e-commerce whereby consumers are becoming even more heavily reliant on online retail channels to avoid crowded places to limit social interactions,” Sealy points out.

However, with a significant strain placed on e-commerce, physical brick and mortar retail still has a major role to play and is essential in many instances. In most countries, retailers considered essential (e.g., supermarkets) remain open. They have put in place measures to help combat the spread of COVID-19 to shoppers and customers, including the enforcement of 2-meter distancing and placing protective screens at checkouts. They are also encouraging digital payments over cash and, where possible, completely contactless transactions.

Major payment networks, including Visa and Mastercard, are looking to aid in the pandemic by increasing contactless card spending limits. Many national and local authorities and governments, as well as merchants, are encouraging digital payments over cash, using the digital transaction method to limit contact with items and objects that are communal and used by multiple people—in this instance, point-of-sale terminals.

“COVID-19 is not only bringing contactless to the forefront of the digital payment experience, but also other next-generation payment card form factors. As consumers increasingly use and become more reliant on contactless, the question of how best to secure and limit fraud on increasing contactless transaction volumes and values will come into play,” Sealy says.

Biometric payment cards are well-positioned as a solution that offers a contactless payment card experience without limits. The use of multi-factor contactless transaction authentication will become a key theme post-COVID-19, extending security previously reserved for high computer-powered devices such as smartphones and mirroring the experience and security features onto the passive payment card form-factor.

“The message is clear that contactless payments have a critical role to play in the fight against COVID-19, from a hygiene, health, and safety perspective,” Sealy added.

This News has been Published in Partnership with PR Newswire

News

Yango Launches ‘Elite’ Tariff, Showcasing Commitment to Quality

Published

on

yango dubai

Dubai: Embracing the ethos that excellence is not an act but a habit, Yango ride-hailing service is introducing the Elite tariff, a new premium service class, for its discerning users in Dubai. Designed for those special occasions when only the best will do, the Elite tariff redefines travel with elegant experiences.

Yango has always been committed to service quality, and the Elite tariff is no exception. Drivers for the Elite tariff are handpicked and have undergone rigorous special training designed to exceed rider expectations on every journey. This includes enhanced customer service training and etiquette to ensure every interaction is memorable. Passengers will experience travel in a class of its own, featuring top-of-the-line vehicles such as the Mercedes-Benz S-Class or BMW 7 Series. These cars are not just a means of transport but a part of the experience, combining comfort with unparalleled style.

Moreover, the Elite experience is tailored to pamper customers from the moment they step into the vehicle. Drivers will greet customers with courtesy, opening the door to add an extra touch of class. Inside, passengers will find a serene environment, complete with complimentary water, ensuring their comfort throughout the ride. Every detail, from the seamless booking process to the attentive service provided by partner drivers, is carefully considered to ensure Yango’s service quality leaves a lasting impression.

Islam Abdul Karim, General Manager, Yango GCC, commented: “We have poured our passion for quality into every aspect of this service, from the meticulous selection and training of our drivers to the curation of a fleet comprised solely of premium vehicles. What truly sets us apart is our extensive footprint in over 20 countries, which not only empowers us with a deep understanding of diverse customer needs but also fuels our drive for innovation. With the Elite tariff, we’re not just offering rides; we’re creating experiences that redefine luxury and convenience.”

Available now through the Yango app, the Elite tariff is more than just a ride — it’s a lifestyle choice. Following last year’s successful launch of the Kids’ service class, which catered specifically to the safety and convenience of families travelling with young children, the Elite tariff is a direct response to the riders’ demands for more bespoke travel options. For the next special occasion, choose Elite and turn every journey into a celebration of luxury and comfort.

For more information, please visit https://yango.com/en_int/ or download the Yango app from Google Play or the App Store.

About Yango

Yango is a tech company that transforms global technologies into everyday services tailored for local communities. With an unwavering commitment to innovation, we reshape and enhance leading cutting-edge technologies from around the world into seamlessly integrated daily services for diverse regions.

Our mission is to bridge the gap between leading world innovations and local communities, fostering connections and enhancing everyday living experiences. In addition to ride-hailing services, Yango Maps, Yango Delivery, Yango Play, Yango Tech, and Yasmina, an advanced Arabic human-like AI voice assistant, are also available in the UAE.

Continue Reading

News

Mappable launches Neurogeocoder API to revolutionize mapping solutions for UAE businesses

Published

on

Mappable

Mappable, a global company that brings powerful and highly customizable mapping solutions to the local markets, announces the launch of its new product — the Neurogeocoder API, which is now available to all clients in the UAE.

The Neurogeocoder API, powered by machine learning and AI, is a game-changer in geospatial solutions, particularly in light of the projected 14.2% CAGR growth of the global digital map market by 2030. Unlike standard geocoders with fixed algorithms set by the development team, Neurogeocoder’s adaptive nature ensures precise results, even with unstructured location queries containing errors or typos. This advanced tool allows for the seamless display of user-entered addresses on maps and facilitates the transformation of map points into detailed street addresses, ensuring precise and reliable location results. By recognizing local expressions for districts, towers, and roads, the Neurogeocoder effectively links them to specific addresses or points, a feat beyond the capabilities of standard geocoders.

The Neurogeocoder API is a powerful tool for various industries, including e-commerce, real estate, food-tech, ride-tech, and logistics. It helps quickly translate large address volumes into coordinates and vice versa, as well as process intricate or locally specific location queries for different business scenarios. For e-commerce, the Neurogeocoder can enhance customer service by displaying pickup points on maps, allowing users to choose the most convenient location when placing orders. For real estate companies, the tool can accurately showcase property locations, helping potential buyers visualize the surroundings to make informed decisions when considering a purchase. For logistics services, the API optimizes operations by providing accurate addresses to managers for better cost estimation of deliveries, leading to increased operational efficiency and cost savings for the business.

In addition to the Neurogeocoder API, Mappable offers a comprehensive suite of solutions tailored to multiple business needs:

  • Performative, customizable, and data-rich maps for clients’ websites, apps, or CRM.
  • Automatic geo verification and easy search by address, coordinates, and other parameters.
  • Navigation and route planning tools that take into account traffic and weather forecasts as well as other parameters, to help drivers, couriers, and other professionals efficiently move around the country.

“The UAE is rapidly progressing in the fields of technology, e-commerce, and smart mobility and we’re excited to support businesses on this journey. Mappable solutions allow companies to optimize logistics and enhance customer service quality by automating processes and reducing workloads on internal personnel, call centers and order-processing specialists. We know what local businesses need and are constantly updating our products, using machine learning and AI to give our clients the best possible mapping solutions. The newly launched Neurogeocoder is a great example of this. It understands our address-inputting habits and adapts to them”, explained Sabina Mirza-Akhmedova, Chief Executive Officer at Mappable.

Sabina Mirza-Akhmedova, Chief Executive Officer at Mappable

All Mappable solutions provide extensive customization opportunities, and a wide range of licensing choices. The company has also launched an online self-service desk, which gives easy and fast access to its APIs — for trial or license purchase. More information can be found at mappable.world.

About Mappable:

Mappable is a global mapping and geospatial solutions provider based in the UAE, offering powerful and customizable business solutions to local markets. With a focus on innovation and precision, Mappable provides cutting-edge mapping, geospatial, and navigation technologies to meet the diverse business needs of e-commerce platforms, retail chains, logistics and delivery firms, manufacturing enterprises, ride-tech and food-tech companies, telecommunications corporations, banks, as well as the public sector.

Continue Reading

News

Yango showcases latest innovations to transform urban transport at Mobility Live ME

Published

on

yango

Abu Dhabi, UAE, Yango, an international tech company, made a significant impact as the Silver Sponsor at Mobility Live ME, the region’s most crucial event focusing on disruptive technology in mobility. Being committed to leveraging the power of technology to improve its users’ lives, Yango showcased its latest products and innovations and presented insights tailored to the MENA region’s evolving demands.

Building on its reputation for unique service offerings, the company recently launched Yango Drive, a comprehensive car rental marketplace integrated within the Yango SuperApp that is gaining substantial traction in Dubai. It features a digital booking system that offers an array of 3,500 cars, providing a seamless, high-quality rental experience from booking to return. This service reflects Yango’s commitment to comfort, convenience, and sustainability, supporting the shift towards shared mobility and aligning with the UAE’s Net Zero 2050 and Dubai Urban Plan 2040 initiatives.

Furthermore, in alignment with its dedication to enriching local communities, the ‘Prayer Mode’ for Muslim drivers was recently launched during the holy month of Ramadan. This feature facilitates drivers’ adherence to prayer schedules and includes innovative mapping and smart routing technologies to locate the nearest mosques. The app also mutes notifications during prayer times and provides directions to the Qibla, ensuring drivers can seamlessly balance their professional responsibilities with their religious practices.

Islam Abdul Karim, General Manager, Yango GCC, said: “We have seen great demand for our services since our entry into the market and are dedicated to developing a safe and comfortable urban transport system to keep up with this demand. With technology at the heart of our mission, we are not just responding to the current status but are actively shaping the future of mobility with innovative solutions and features. We will continue to set new standards in the industry, contributing to creating smart, sustainable cities.”

Islam spoke in a panel discussion at Mobility Live: “Movers and Shapers: Shining a Spotlight on the Game-Changers in Modern Transport Systems.” Shashi Shekhar Singh, Director of New Markets at Yango, delivered a keynote speech on the “Future of Mobility,” delving into how the company redefines urban mobility.

The company’s commitment to innovation is reflected in its diverse range of services, including Yango Maps, Yango ride-hailing service, Yango Play, Yango Tech, the advanced Arabic human-like AI voice assistant Yasmina, and many more, all of which are designed to enhance the everyday lives of local communities. As one of the leading apps in the region, the company is committed to supporting local transport providers, creating jobs, and fostering long-term partnerships with local communities and governments.

Continue Reading

Trending

Subscribe to our Free Newsletter

Get Business and Marketing Insights from Experts, only onTimes of Startups!

Your Information will never be shared with any third party