Palm Pay: Dubai, the city of innovation and extravagance, is about to take contactless payments to a whole new level. Forget swiping your card or fiddling with your phone – soon, all you’ll need is the palm of your hand.
Palm Pay:Â Contactless Payments
This futuristic technology, aptly named Palm Pay, was unveiled by Astra Tech, a UAE-based company, at the Dubai FinTech Summit on May 6th. Astra Tech, the brains behind popular services like Botim, PayBy, and Rizek, has secured a patent for palm payments in the MENA region.
Here’s how it works: Palm Pay utilizes contactless palm recognition. Shoppers simply hover their palm over a designated device, which reads their unique palm print and securely authenticates the payment. This eliminates the need for physical cards or even smartphones, making transactions incredibly fast and convenient.
The rollout is expected to happen gradually throughout 2024. Astra Tech plans to integrate the Palm Pay technology into existing payment machines across the UAE through their subsidiary, PayBy. This means you could be waving your way to pay for your groceries or that new pair of sunglasses much sooner than you think.
And the best part? Palm Pay will be free for users of Astra Tech apps, potentially including Botim and PayBy. So, ditch the bulky wallets and cluttered phone cases – the future of payments is delightfully simple.
A friendly word of caution though: with this new technology, those enthusiastic goodbyes or casual waves towards friends near a payment terminal might need a slight adjustment. You wouldn’t want to accidentally trigger a purchase!
This palm payment innovation isn’t the only futuristic development happening in Dubai. The city is embracing a wave of sci-fi-inspired solutions, from lasers and robots tackling traffic woes to flying taxis taking to the skies. Dubai is clearly determined to be at the forefront of technological advancements, constantly pushing the boundaries of what’s possible.
Palm Pay’s arrival marks a significant step towards a more streamlined and secure payment experience. This UAE-developed technology not only positions Dubai as a leader in contactless payments but also sets a precedent for the entire Middle Eastern region. As the technology rolls out, it will be fascinating to see how it impacts consumer behavior and the overall payment landscape in Dubai and beyond.