Interesting facts:
The value of real estate in UAE must be at least 1 million dirhams in order to obtain a residency visa. Full versionIf you are planning a short-term or long-term trip to the UAE, for example in Dubai, then for sure you have asked a question about the structure of the payment terminals in the UAE. The Emirates take care of the comfort of tourists and guests of the country, so new bank terminals appear here permanently, for example, in the past year, UAE banks have installed about 200 new ATMs. Banking terminals are a necessity in the territory of the country with a developed business infrastructure.
Payment terminals are located in all airports of the country, in large shopping centers, as well as on the most crowded streets. Some mini-markets also install terminals for payment next to the shops for the convenience of their customers. The same is applied to some hotels and guesthouses. Withdrawing cash in the payment terminal is, in most cases, more cost-effective than using the currency exchange offices. The amount that you can withdraw from the card depends on the conditions of your bank. Typically, this is approximately up to 100,000 dirhams. When planning your trip to the UAE, please note that about 95% of all retail transactions are still paid in cash. This explains the emergence of all new terminals for payment on the territory of the Emirates. The first terminal for payment appeared in the UAE in 1983. About 30% of modern banking terminals allow users to withdraw cash without a card with the use of the mobile phone.
Payment via terminals is very convenient, and it is a modern way of payment. It is much more cost-effective for UAE banks to install new terminals for payment than to open new branches. It is expected that the number of bank terminals will reach 6300 by 2020. Also, banks are actively introducing new technologies and interactive services. The generation of millennials welcomes such changes, which means that payment terminals will change and improve, providing customers in the UAE with all new services and options.
One of the most influential banks in the UAE is the National Bank of Abu Dhabi (NBAD). Payment terminals of this bank are available 24/7. The bank has 500 payment terminals.
In general, the system of bank terminals in the UAE is well developed and convenient. Modern technologies allow customers to find easily the nearest payment terminal, make payments via terminals, withdraw cash or make any other transaction.
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