A new payment technology called Palm Pay is set to revolutionize the way purchases are made in stores across the UAE. This contactless palm recognition service will allow customers to pay for their items by simply hovering their palm in front of machines, eliminating the need to swipe bank cards or phones at cash counters. The rollout of this technology is expected to happen gradually throughout 2024, with plans to integrate it with over 50,000 PayBy merchants.
The payment machines will read customers’ palm prints to authenticate transactions using biometric authentication methods. The technology will be free for users, with the option to register through the device itself at the point of sale initially. In the future, customers will be able to integrate their palm prints into apps like PayBy and Botim for added convenience. This innovative payment solution aims to provide secure transactions and seamless integration with existing point of sale systems.
Astra Tech, the technology development group behind Palm Pay, is exploring future integration with banks to enable users to link their accounts directly. Merchants interested in being early adopters of this technology can contact their account managers to sign up and express their interest in receiving the technology. The company sees strong potential for Palm Pay in various sectors, with a focus on the retail sector due to its high customer traffic.
The company believes that Palm Pay is a cost-effective solution for merchants and promotes financial inclusion for the unbanked population. By offering a secure and convenient payment method, Palm Pay aims to enhance the overall shopping experience for customers and streamline the checkout process. As the technology continues to evolve and expand, more stores and customers in the UAE are expected to adopt Palm Pay as their preferred payment method. With its innovative approach to payment technology, Palm Pay is set to change the way we make purchases in the future.
