Etisalat, MasterCard demonstrate future of mobile payments
Someday the two companies could utilise innovative machine-to-machine technology to bring it to the market. GITEX 2013 marked the first international demonstration of Google Glass by MasterCard as a next generation payments solution.
"Over the last few years, Etisalat has used GITEX as a platform to launch innovative solutions that are now being used by millions of people all over the world," said Khalifa Al Shamsi, chief digital services officer at Etisalat Group. "We're now looking at ways to build on this successful partnership with MasterCard using the technologies of tomorrow such as this innovative payment product we are showcasing today."
Shopping and payment solution
Google Glass displays information on a small display over the wearer's right eye that looks like a 25-inch screen viewed from a distance of eight feet; it is expected to be available to consumers from next year. The new shopping and payment solution was developed by MasterCard Labs.
"With technology such as Google Glass coming to the market soon, MasterCard and Etisalat are exploring many more opportunities to build on a successful history of partnering that has already brought innovative solutions in mobile commerce to the market," said Brian Lang, senior vice-president, Market Development, Middle East and Africa, MasterCard.
Over the past two years, the mobile commerce solution Flous, a digital wallet on mobile devices that can be used for a host of financial services including local and international money transfer and cash-free payment of products and services, won two of the telecoms industry's most prestigious awards at the GSMA's Mobile World Congress in Barcelona.
Flous was successfully launched in Egyptian market by Etisalat and MasterCard in conjunction with the Egyptian Banking Company earlier this year.
* Glass is a trademark of Google Inc.
