Apple Inc., the US-headquartered technology giant, has announced that Apple Pay, its mobile payment software, will arrive in the UAE before the end of 2017.
On an earnings call with analysts on Tuesday, the company said that Apple Pay would go live in the UAE, Denmark, Finland and Sweden before the end of this calendar year.
“Apple Pay is by far the number one NFC payment service on mobile devices, with nearly 90% of all transactions globally,” said a spokeswoman for Apple in a statement to Gulf News.
NFC refers to near field communication: Technology through which two devices can communicate when brought within four centimetres of each other.
Stating that one in four Apple Pay transactions take place outside of the US, Apple said that “momentum is strongest in international markets, where the infrastructure for mobile payments has developed faster than in the US.”