Mastercard digital payments UAE | Banking – Gulf News

Mastercard digital payments UAE | Banking – Gulf News


How the business is accommodating accelerated adoption of digital payments
Image Credit: Supplied
The adoption of digital payments – in-store and online – was significantly accelerated in 2020 because of the dynamics of Covid-19. The speed, breadth, and permanence of this change, made possible by the fintech revolution and global digital transformation, is almost equalled by the growing sophistication of cybercrime.
And so, as financial services providers work on pioneering exciting new digital services and products, so too must they invest in security solutions that protect consumers, businesses, and the global financial system.
The diversity of platforms and devices complicates this challenge – financial services providers must consider the security risk of digital payments not only by cards but also by phones, mobile wallets, and wearable tech – across different networks and regulatory environments.

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