The simple act of buying a cup of coffee is about to get a whole lot smarter.
We all know that cash is no longer king in the retail world, given the rise of credit cards and contactless payments. But according to MasterCard, ever more technologically advanced ways of paying for goods are on the horizon.
The global payment-processing company this year became the first international firm to sign a cooperation agreement with the Dubai Innovation Strategy, a government-led initiative aimed at making Dubai the world’s most innovative city. Under the agreement, MasterCard plans to launch high-tech programmes to enhance innovation in the UAE.
Eyad Al Kourdi, the head of MasterCard in the UAE, says his company now plans to go even further by opening a lab in Dubai, as it has in several other markets, to look at how new technologies can transform the consumer experience.
Mr Al Kourdi, an Emirati who has worked for MasterCard since 1996, says part of this will involve researching how the wallet of the future may look – and it does not involve much leather. Here he explains how, in just a few years’ time, UAE consumers could use their actual heartbeat as a signature when paying for that morning espresso.
In five years’ time, what might it be like paying for a cup of coffee in the UAE?
Everything is going to be centred around some form of an electronic device – be it a mobile, watch or authenticator – and that will become your gateway to all kinds of transactions. Your mobile could be the custodian for all your cards, and an authenticator would be able to tell whether you're the right person or not. I don't think it will be five years – it's going to happen much earlier than that. It's not going to be like Star Trek or Star Wars, but there's some amazing stuff coming our way.
What will MasterCard be doing as part of its agreement with the Dubai Innovation Strategy?
We will be developing applications and launch pads for solutions that will revolutionise the overall consumer journey in the UAE. Today, the normal way of payments is that you go to a shop, you like something, you hand over a card, they swipe it and you’re done. The question is how we can evolve this entire payment transaction in order for us to move to the mobile world, or a world in which you can do all this in a seamless way. For example, there is a device called the Nymi that checks your electrocardiogram – something unique to every person – and tells all the devices paired with it that you’ve been authenticated.
Does MasterCard plan to open a research lab in the UAE?
We have labs in Australia, Asia-Pacific, Africa, Europe and the US. We are planning to have our labs in the UAE in the very near future.
Is this about MasterCard playing catch-up, struggling to keep relevant in a world of fast-changing technology?
I don’t see it that way. I see it as a way for us take to take the lead in evolving the way in which people think about a certain innovation or technology.
Some providers offer credit cards with embedded Nol cards for use on the Dubai transport system. Is that something MasterCard has looked at?
It can be done, and we are very open to working with a lot of the government entities. And you will see a few announcements on some of our government partnerships in the very near future. People will start enabling more applications on one single piece of plastic. This makes it easier for the consumer, as an alternative to having a number of plastic cards in their wallet, such as their loyalty cards, driver’s licence, medical records, national ID and credit and debit cards. Imagine a lot of these merging, and sitting in one single place. It could be a phone, watch or wristband rather than a plastic card. This will evolve so fast, and I think we’re going to be playing a larger role in that evolution.
So it’s bad news if you’re in the leather wallet business?
Hey, listen. Some of these wallet makers have evolved and are starting to provide iPhone covers. People can decide whether they’re going to be stuck on one single product, or whether it’s going to be an evolution.
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Abu Dhabi race card
5pm Abu Dhabi Fillies Classic Prestige | Dh110,000 | 1,400m
5.30pm Abu Dhabi Colts Classic Prestige | Dh110,000 | 1,400m
6pm Abu Dhabi Championship Listed | Dh180,000 | 1,600m
6.30pm Maiden | Dh80,000 | 1,600m
7pm Wathba Stallions Cup Handicap | Dh80,000 | 1,400m
7.30pm Handicap (TB) |Dh100,000 | 2,400m
Key findings of Jenkins report
- Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
- Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
- Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
- Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
It Was Just an Accident
Director: Jafar Panahi
Stars: Vahid Mobasseri, Mariam Afshari, Ebrahim Azizi, Hadis Pakbaten, Majid Panahi, Mohamad Ali Elyasmehr
Rating: 4/5
The specs
Engine: 77.4kW all-wheel-drive dual motor
Power: 320bhp
Torque: 605Nm
Transmission: Single-speed automatic
Price: From Dh219,000
On sale: Now
Electric scooters: some rules to remember
- Riders must be 14-years-old or over
- Wear a protective helmet
- Park the electric scooter in designated parking lots (if any)
- Do not leave electric scooter in locations that obstruct traffic or pedestrians
- Solo riders only, no passengers allowed
- Do not drive outside designated lanes
THE SPECS
Engine: 1.5-litre, four-cylinder turbo
Transmission: seven-speed dual clutch automatic
Power: 169bhp
Torque: 250Nm
Price: Dh54,500
On sale: now
Heather, the Totality
Matthew Weiner,
Canongate
The specs: 2018 Volkswagen Teramont
Price, base / as tested Dh137,000 / Dh189,950
Engine 3.6-litre V6
Gearbox Eight-speed automatic
Power 280hp @ 6,200rpm
Torque 360Nm @ 2,750rpm
Fuel economy, combined 11.7L / 100km
Like a Fading Shadow
Antonio Muñoz Molina
Translated from the Spanish by Camilo A. Ramirez
Tuskar Rock Press (pp. 310)
FFP EXPLAINED
What is Financial Fair Play?
Introduced in 2011 by Uefa, European football’s governing body, it demands that clubs live within their means. Chiefly, spend within their income and not make substantial losses.
What the rules dictate?
The second phase of its implementation limits losses to €30 million (Dh136m) over three seasons. Extra expenditure is permitted for investment in sustainable areas (youth academies, stadium development, etc). Money provided by owners is not viewed as income. Revenue from “related parties” to those owners is assessed by Uefa's “financial control body” to be sure it is a fair value, or in line with market prices.
What are the penalties?
There are a number of punishments, including fines, a loss of prize money or having to reduce squad size for European competition – as happened to PSG in 2014. There is even the threat of a competition ban, which could in theory lead to PSG’s suspension from the Uefa Champions League.
Gulf Under 19s final
Dubai College A 50-12 Dubai College B
MATCH INFO
Uefa Champions League semi-finals, first leg
Liverpool v Roma
When: April 24, 10.45pm kick-off (UAE)
Where: Anfield, Liverpool
Live: BeIN Sports HD
Second leg: May 2, Stadio Olimpico, Rome
The Lowdown
Kesari
Rating: 2.5/5 stars
Produced by: Dharma Productions, Azure Entertainment
Directed by: Anubhav Singh
Cast: Akshay Kumar, Parineeti Chopra
Day 2, Abu Dhabi Test: At a glance
Moment of the day Dinesh Chandimal has inherited a challenging job, after being made Sri Lanka’s Test captain. He responded in perfect fashion, with an easy-natured century against Pakistan. He brought up three figures with a majestic cover drive, which he just stood and admired.
Stat of the day – 33 It took 33 balls for Dilruwan Perera to get off the mark. His time on zero was eventful enough. The Sri Lankan No 7 was given out LBW twice, but managed to have both decisions overturned on review. The TV replays showed both times that he had inside edged the ball onto his pad.
The verdict In the two previous times these two sides have met in Abu Dhabi, the Tests have been drawn. The docile nature of proceedings so far makes that the likely outcome again this time, but both sides will be harbouring thoughts that they can force their way into a winning position.
