What To Know
- The market of the digital wallet is expected to take over the globe by the year 2025 where it is expected to cover 52% of the e-commerce transactions and 30% of the point of sale transactions.
- The store is a part of the world’s largest single airport retailer, Dubai Duty Free which means that the partnership expands new ways for successful transactions through digital wallets.
- There is integration of TerraPay’s large network in place to enable the freedom for the travelers to pay in any way they prefer.
Dubai Duty Free, DDF, which is the largest Airport retailer has signed with TerraPay which is a global money movement company to enabled instantaneous payments via digital wallet. This kind of partnership will enable millions of worldwide citizens to buy from DDF using their own digital wallets; enhancement of ease and convenience in purchases.
This will mean that Dubai Duty Free will be accepting payments from over 3.7 billion mobile wallets globally due to the integration to TerraPay’s network. This integration will further intensify DDF’s focus towards delivering convenient and unique modes of payment processing to the travelling community across the globe.
The Rise of Digital Wallet Payments
The market of the digital wallet is expected to take over the globe by the year 2025 where it is expected to cover 52% of the e-commerce transactions and 30% of the point of sale transactions. Also, as much as the cross-border payments, a record of 35% are believed to be carried out through digital wallets proving that consumers are constantly eager for speed and convenience.
Currently, operators like Airtel Money, M-PESA, and MTN MoMo are among those mobile money services that are already incorporated to Dubai Duty Free. People can now use what they like within the countries they visit without exchanging the wallet for any local banking system.
Leaders Speak on the Partnership
Ambar Sur the Founder & CEO of TerraPay said it was a great to join forces with the Travelport in the words following:
The store is a part of the world’s largest single airport retailer, Dubai Duty Free which means that the partnership expands new ways for successful transactions through digital wallets. By incorporating the new cross-border payment system, TerraPay’s focuses on providing faster, secure, and innovative financial connect for the underbanked population.
About this, the Managing Director of Dubai Duty Free, Ramesh Cidambi, welcomed the advice with enthusiasm.
That way, the company has remained firm with its goal to improve the customer experience. There is integration of TerraPay’s large network in place to enable the freedom for the travelers to pay in any way they prefer. This partnership
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