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Follow on Google News | 45% of UAE Residents Don’t use Credit Cards OnlinePayment gateways in the UAE are the safest option for consumers in order to avert fraud. This is the message from payment gateway cashU, a leading secure online payment solution.
“Cards are being compromised. The majority of cards which are compromised are compromised offline. At places like restaurants and hotels. Card details are copied and details stolen. This is why payment gateways mitigate the risk of phishing and card cloning. This is why we are encouraging consumers to turn to payment gateways as a reliable avenue,” said Martin Waldenstrom CEO, cashU. A recent study revealed that 45% of credit card holders in the UAE prefer not to use their credit cards online fearing fraud. Payment gateways provide merchants with a unique safe payment solution that reaches millions of potential online buyers in the MENA region. Waldenstrom said using credit cards online was far safer than using it anywhere else. Currently the UAE contributes to 15% of the total number of cashU users. He added that in the next few years there would be new apps and technology that would take online safety to the next level and reassure consumers. “Near Field Communication (NFC) is the next step in online safety. Consumers would simply wave their mobiles over a laptop and make a payment. In the next few years there will be a huge shift towards this.” End
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