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Emirates NBD partners with Etisalat and Visa to launch next-generation mobile payment solution - MoneyMobile

Development of contactless payments using Visa payWave via mobile device
NFC mobile payment solution branded "MoneyMobile," introduced in partnership with Etisalat, Visa and Gemalto
Dubai, March 20, 2012: In line with its focus on providing next-generation banking services, Emirates NBD , a leading bank in the region, announced today the launch of the "MoneyMobile," a contactless payment solution that will enable customers to pay for purchases with a single wave of their contactless mobile device.

Today's announcement follows the recent roll-out of an NFC-branded mobile device, among select staff at Emirates NBD , Etisalat, Visa and Gemalto, who will be testing the device during this initial phase.

With MoneyMobile, users will be able to complete retail transactions by waving their NFC mobile phone at Visa payWave terminals, providing a secure, fast and easy way to pay for everyday purchases.

" Emirates NBD is delighted to introduce this exciting new technology, which is in line with our role as the leading provider of next-generation banking solutions for customers," said R. Sivaram, Senior Vice President and Head of Cards Business, Emirates NBD . "During this phase, working in partnership with our valued partners Etisalat, Visa and Gemalto, we will gain valuable insights into the customer experience, which we will incorporate into this offering before the wider consumer launch that will be the next phase."

"Offering multiple levels of security, the MoneyMobile solution clearly represents the retail experience of the future," R.Sivaram continued. "As we move towards a world of contactless solutions that make shopping easier than ever before, Emirates NBD will continue to stand at the forefront of innovation."

"The introduction of Mobile NFC services is a great way to simplify the consumer payment experience, due to its ease of use and convenience," said Marwan Al Qadi, Acting Senior Director, Electronic and Mobile Commerce, Etisalat. "Etisalat has always been a pioneer in introducing the latest technology catered to meet our customers' ever-changing lifestyles. We are excited at this opportunity to work with a dynamic and progressive partner like Emirates NBD , to revolutionize the consumer payment experience here in the UAE."

Kamran Siddiqi, General Manager, Visa Middle East, added: "Mobile payments are quickly becoming the way of the future as the widespread adoption of mobile technology changes how people connect with each other. As one of the market leaders in the provision of payment solutions, Visa is committed to accelerating the global shift towards electronic payments and has a long track record of creating innovative solutions that meet the ever-changing needs of consumers. That's why we're so delighted to be partnering with Emirates NBD and Etisalat to develop this exciting initiative in the UAE. Users will enjoy the ease and convenience of simply scanning their phone to pay as they breeze through the checkout in stores where they see the Visa payWave sign," Siddiqi added.

"Gemalto's 'Trusted Services Management' services allow for the secure deployment and management of contactless mobile payment," added Jean-Claude Deturche, Senior Vice President, Mobile Financial Services at Gemalto. "Gemalto will dedicate its global experience in NFC solutions to supporting Etisalat and Emirates NBD in achieving success in this innovative business proposition. This new service promises to revolutionize the payment, retail and mobile ecosystems, whilst enhancing the shopping experience and bringing enormous benefits to consumers and merchants."

-Ends-

About Emirates NBD
Emirates NBD is a leading banking Group in the region. As at 30 September 2011, total assets were AED 271.9 billion. The Group has a leading retail banking franchise in the UAE, with over 141 branches and over 740 ATMs and SDMs. It is a major player in the UAE corporate banking arena and has strong Islamic banking, Global Markets & Treasury, investment banking, private banking, asset management and brokerage operations.

The Group has operations in the UAE, the Kingdom of Saudi Arabia, Qatar, Singapore, the United Kingdom and Jersey (Channel Islands), and representative offices in India and Iran.

The Group is an active participant and supporter of the UAE's main development initiatives and of the various educational, environmental, cultural, charity and community welfare establishments.

For more information, please visit: www.emiratesnbd.com or contact:
Afaf Jbara / Hassan Al Khuwaildi
Communications, Group Marketing, Emirates NBD
Tel: 971 4 6093481/ 971 4 6093459
Mob: 971 50 8842020 / 971 50 7454454
Email: Afafj@emiratesbank.com / HassanAl@emiratesnbd.com

Parisa Ansarian / Sudha Chandran
ASDA'A Burson-Marsteller, Dubai, UAE
Tel: 971-4-4507600, Fax: 971-4-4358040
Email: p.ansarian@asdaa.com / s.chandran@asdaa.com

About Etisalat
Etisalat is a leading telecommunications corporation catering to consumers, businesses, international
telecommunication companies, ISPs, content providers and mobile operators.

Headquartered in Abu Dhabi, UAE, Etisalat is the largest operator in the Middle East and Africa regions with a market value in excess of AED 80 billion (US$20 billion) and annual revenues of approximately AED 30 billion (US$8 billion). Etisalat has one of the highest credit ratings for a telecommunications corporation in America, The Middle East and Africa and is the second highest rated telecom company globally on the Fitch rating scale and fourth highest on S&P and Moodys' rating.

Etisalat operates in 18 countries across Asia, the Middle East and Africa, a coverage area which reaches more than two billion people. To date, the group's global subscriber base exceeds over 140 million subscribers through mobile and fixed line voice and data services.

Etisalat UAE is pioneering the launch of the first commercial 4G service on its nation-wide LTE network and promises to deliver a compelling mobile broadband experience to customers.

For further information, please contact:
Iyad Al Zou'bi
Senior Manager International Media Relations - Etisalat
Tel 0097126182622, Mobile 00971506123568
Email: ialzoubi@eitsalat.ae

About Visa:
Visa is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories to fast, secure and reliable digital currency. Underpinning digital currency is one of the world's most advanced processing networks--VisaNet--that is capable of handling more than 10,000 transactions a second, with fraud protection for consumers and guaranteed payment for merchants. Visa is not a bank, and does not issue cards, extend credit or set rates and fees for consumers. Visa's innovations, however, enable its financial institution customers to offer consumers more choices: Pay now with debit, ahead of time with prepaid or later with credit products. For more information, visit www.corporate.visa.com.

Media contact for Visa:
Lisa Flanagan
DABO & CO
Tel: +971 4 344 4901
Email: lisa.f@daboandco.com

About Gemalto
Gemalto (Euronext NL0000400653 GTO) is the world leader in digital security with 2010 annual revenues of €1.9 billion and over 10,000 employees operating out of 87 offices and 13 Research & Development centers in 45 countries.

Gemalto is at the heart of our evolving digital society. Billions of people worldwide increasingly want the freedom to communicate, travel, shop, bank, entertain, and work--anytime, anywhere, in ways that are convenient, enjoyable and secure. Gemalto delivers on the growing demands for personal mobile services, identity protection, payment security, authenticated online services, cloud computing access, modern transportation, e-healthcare and e-government services. Gemalto does this by providing secure software, a wide range of secure personal devices, and managed services to wireless operators, banks, enterprises and government agencies.

Gemalto is the world leader for electronic passports and identity cards, two-factor authentication devices for online protection, smart credit/debit and contactless payment cards, as well as subscriber identification modules (SIM) and universal integrated circuit cards (UICC) in mobile phones. Also, in the emerging machine-to-machine applications Gemalto is a leading supplier of wireless modules and machine identification modules (MIM). To operate these solutions and remotely manage the software and confidential data contained in the secure devices Gemalto also provides server platforms, consulting, training, and managed services to help its customers achieve their goals.

As the use of Gemalto's software and secure devices increases with the number of people interacting in the digital and wireless world, the Company is poised to thrive over the coming years. For more information visit www.gemalto.com, www.justaskgemalto.com, blog.gemalto.com, or follow @gemalto on Twitter.

Gemalto Media Contacts:
Kristel Teyras
EMEA Marcom Manager, Gemalto
+33 6 43 81 93 61
kristel.teyras@gemalto.com

Ragdha
Majilis PR
+971 4 330 76 86
raghda@majlisdubai.com

© Press Release 2012

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