After launching Google pay, UAE consumers are getting confused to choose the right digital wallet for their smartphone because there are wide varieties of digital wallets available. Are you one of them, then go through this article to get clear on choosing of the digital wallet.
First, we have to know, what is a digital wallet?
The digital wallet is the online service that allows doing digital transactions. This includes securely paying bills, retailers, transfer the amount to your friends and families using only their mobile phone within no time.
Here is the list of top digital wallets available in the UAE:
Apple Pay is the payment system put together by Apple. It works on iOS and Mac devices as well as in the Safari web browsers. Apple pay app requires you to add credit card details and requires bank verification to made easy transactions.
Even if it requires your credit card details, it doesn’t store credit card data for further use. Instead of storing, it uses a token in a device-specific code which differs for every device. This app provides additional security by using a passcode, facial recognition, or a fingerprint scan for verification during each transaction.
Keep in mind that, Apple Pay has an option to send money to other people but currently this option is not available in UAE.
Google Pay is also known as G Pay. American tech giant Google has launched its Google Pay payment service app with the development of this app by the best app development companies, this is the digital wallet platform and online payment system. It works similar to Apple Pay app but this app can be used by every person because Apple Pay is available for only Apple devices and G Pay app available for both iOS and Android devices.
Google pay makes the shopping experience easy by making payments through apps or websites and in all stores via Near Field Communication (NFC). In this transaction is made through virtual card number, i.e., token, this token number is always changing for each transaction because it is associated with the dynamic security codes.
South Korean electronics giant introduced this Samsung Pay app in UAE at April 2017. It works on a number of its devices like Apple Pay.
This app also works with contactless card readers, work similar to Google and Apple Pay app. The main advantage of using this app is card readers still rely on magnetic strips, this type of card readers are majorly available at retailers in UAE.
The beam is a very old digital wallet used in the market and starts its operation in UAE since 2012. Similar other wallets available in this country, Beam also allow users to earn cash back when they digitally paying for their products using this app in their phone.
Adding card details and security is as same as other digital wallets. But the only drawback of this app is the limited number of establishments can accept it, but it has petrol stations ENOC and EPPCO in its list of merchants that do accept.
WePay is a Chinese online payment service provider and is an emerging app for an international market. WePay Wallet is a part of WeChat. Earlier in this year, the company made an agreement with Dubai Tourism to introduce the service in Dubai. This app has a lot of options but all options are not available for UAE residents because the app ties your phone directly to a bank account in mainland China. This wallet accepts only foreign Visa and MasterCard credit cards but still, you can use it for making payments.
Still, there are a lot of other digital wallets are available in the market like Emirates Digital Wallet, EmiratesNBD Pay, Etisalat Wallet, and Alipay is a popular digital wallet from Alibaba.
If you want to develop your own digital wallet app, Contact FuGenX Technologies. FuGenX is a top mobile app development company UAE, provide services on game app development, web app development. For more details email us at [email protected]