By Hennie du Plessis, Senior Vice President, Payment Services, Middle East and Africa at IDEMIA Secure Transactions (IST)

The festive season is one of the busiest periods of the year for UAE travelers. From year end getaways and family visits, to overseas shopping and digital gifting, consumers increasingly rely on contactless cards and mobile wallets to make payments quickly and conveniently.

Beyond higher spending, the festive season also acts as a real stress test for digital payment ecosystems. Transaction volumes peak, payment environments become less familiar, and consumers move rapidly across borders. This combination of factors increases exposure to fraud if the right safeguards are not in place. As digital payments scale, security becomes a critical enabler of trust.

According to IDEMIA Secure Transactions’ latest Global Consumer Payment Survey, which included UAE respondents aged 18 to 71, more than 8 in ten consumers have already adopted digital cards with biometric features, while 92 percent express interest in numberless cards. These figures reflect a growing expectation for payment experiences that combine speed, simplicity, and security.

With contactless payments now accounting for 84 percent of face-to-face transactions in the UAE and mobile wallet usage surpassing 50 percent, the festive season is a critical moment for travelers to reassess how they protect their finances while on the move.

1. Avoid Public Wi-Fi for Payment Activity

Festive travel often means relying on airport or hotel Wi-Fi, but unsecured networks remain a common entry point for cybercriminals. Accessing banking apps or making purchases over public Wi-Fi can expose sensitive information at interception. Travelers should use mobile data or a trusted VPN when handling financial transactions. A few moments of convenience are never worth the risk of compromised financial data, especially during peak travel periods.

2. Use Secure Digital Payment Solutions

Not all payment tools offer the same level of protection. Today, tokenization has become a global industry standard for securing digital transactions, replacing sensitive card details with unique digital tokens that are useless if intercepted. Mobile wallets such as Apple Pay, Google Pay, and Samsung Pay already rely on this technology.

Beyond protecting data in transit, tokenization also limits exposure in the event of merchant-side data breaches, as real card numbers are never stored or shared. Tokens are typically device-specific and transaction-bound, adding an additional layer of protection even if credentials are compromised elsewhere.

IDEMIA Secure Transactions plays a key role in enabling tokenized payments at scale, supporting secure transactions across in-store, online and in-app environments through its EMVCo-certified Token Platform. Digital co-badged cards offer global compatibility without sacrificing local functionality. By ensuring that real card numbers are never shared, tokenization significantly reduces fraud risk while preserving a smooth user experience. In addition, digital wallets can be remotely suspended if a device is lost or stolen, offering travelers greater control and peace of mind while abroad.

3. Decline Dynamic Currency Conversion

While shopping abroad during the festive season, merchants often offer travelers the option to pay in AED. This practice, known as dynamic currency conversion, typically includes hidden markups and unfavorable exchange rates. Paying in the local currency allows banks to apply more transparent conversion rates, helping consumers avoid unnecessary costs. This simple choice can make a meaningful difference for frequent travelers and international shoppers alike.

Another possibility for travelers is to use the Tap to Phone technology provided by some banks and supported by IST. Instead of having to switch cards across borders, it enables the travelers to modify their card features, such as credit/debit options and the currency used for transactions, with a simple tap on a smartphone via their banking app. This simple habit can save money and ensure better financial clarity while greatly facilitating international card usage.

4. Enable Real Time Alerts and Card Controls

With spending increasing during the festive period, real time monitoring is essential. Many UAE banks and fintech platforms offer instant transaction alerts, spending limits and location-based restrictions that allow consumers to monitor activity as it happens.

Crucially, modern security no longer has to come at the expense of convenience. These tools enhance protection while maintaining the fast, frictionless payment experiences that consumers expect, particularly in a market where one-click and contactless payments are widely adopted. This aligns with consumer expectations, as 96 percent of UAE users prefer simplified one click payment experiences. Real time controls enhance security without adding friction.

5. Secure Devices Before You Travel

Smartphones now function as wallets, boarding passes and identity tools. Before travelling, users should update device software, enable biometric authentication and avoid storing sensitive information in unsecured apps. Travelers should also activate remote lock and wipe functionality, ensure cloud backups are enabled, and avoid carrying all payment methods on a single device. Keeping at least one physical card separate from the phone provides an important fallback. While digital wallets rely on encrypted token technology, 29 percent of surveyed users still express concerns about digital card security, and 43 percent do not fully understand how these tools work. Basic preparation can significantly reduce risk and soothe concerns.

As UAE card payments are expected to reach USD 150 billion this year, the festive season highlights the need for secure and user-friendly payment infrastructure. By adopting the right tools and habits, travelers can focus on celebrating rather than dealing with fraud.

For the payments industry, the challenge is clear: security must be built into every transaction in a way that protects users without disrupting their experience. When trust is embedded seamlessly, travelers are free to enjoy the moments that matter most, wherever their journey takes them.

Dhruva, a premier tax advisory firm with deep expertise across the Middle East, India, and Asia, is encouraging UAE-headquartered groups and multinational companies operating in the country to place transfer pricing (TP) firmly on their strategic and governance agenda, as the UAE’s corporate tax landscape develops and aligns more closely with international practice.

With corporate tax now in effect, the way organisations price transactions between related parties and connected persons is becoming an important element of tax governance, financial planning and stakeholder confidence. TP is no longer just a specialist topic for tax teams, but an area that benefits from early, well-considered attention at senior management level.

“Transfer pricing has quickly become one of the key components of a modern tax framework in the UAE,” said Kapil Bhatnagar, Partner, Dhruva. “For many organisations, this is still a relatively new area. Our message is a positive one, now is a good time to step back, understand your intra-group arrangements and put in place a clear, well-documented approach. Doing this early can bring greater clarity, predictability and comfort for management, shareholders and other stakeholders.”

Dhruva notes that TP considerations are relevant not only for large global multinationals, but also for UAE-headquartered groups, family businesses, free zone entities and fast-growing regional companies. Any business with cross-border or domestic related-party dealings – such as management fees, services, financing, distribution, manufacturing, or use of intellectual property – can benefit from having a structured view on how these transactions are priced and supported.

Kapil added, “A common question we receive from clients is simply, ‘Where do we start?’ In our experience, the most effective approach is to treat transfer pricing as a practical business project rather than just a technical exercise. It starts with understanding how your group creates value, how responsibilities and risks are shared, and then reflecting that in your pricing, internal policies, and documentation in a consistent way.”

Next steps for UAE organisations

Dhruva’s suggested next steps for UAE organisations focus on helping boards, CEOs, CFOs, and tax leaders move from awareness to practical action on transfer pricing. The first step is to map related-party transactions and understand the big picture. Organisations should identify their main related-party and connected-person transactions, both within the UAE and cross-border, and then group them by type – for example, services, goods, financing, intellectual property or guarantees. From there, they can build a simple, high-level overview of how value flows within the group and where key functions and decision-making actually sit.

The second step is to develop or refine a coherent transfer pricing framework. This involves designing a framework that clearly sets out how different categories of transactions are priced, using appropriate methodologies that reflect the business reality. Internal policies, legal agreements, operational substance and financial outcomes should all be aligned so that they tell a consistent story. It is also important to integrate transfer pricing considerations into budgeting and planning cycles, rather than addressing them only at year-end.

The third step is to strengthen documentation and internal capabilities. Organisations should prepare documentation that explains the group’s business model, value chain and the rationale for its pricing approach in a clear and structured manner. Finance and tax teams need to be equipped with the knowledge and tools to maintain and update this information over time as the business evolves. In addition, a simple governance mechanism should be established to ensure that transfer pricing topics are periodically reviewed at management level and, where relevant, at board level as part of ongoing oversight.

“In many ways, the UAE is at a constructive stage in its tax journey,” Kapil said. “Businesses have the opportunity to put robust, practical transfer pricing foundations in place that reflect how they actually operate. This is not only about compliance – it is about having clarity, supporting informed decision-making and giving confidence to investors, partners and employees.”

Dhruva’s analysis of developments across the wider GCC shows that other regional markets are also expanding their focus on transfer pricing, documentation, and alignment with international standards. For groups operating in more than one jurisdiction, a coordinated regional approach can support consistency and reduce uncertainty.

“Our recommendation to UAE organisations is to use this period to get ready in a thoughtful, structured way. Early movers often find that a well-designed transfer pricing approach supports smoother internal decision-making and provides comfort as the tax environment continues to mature,” concluded Kapil.

Yubi, the world’s only technology company powering the end-to-end debt lifecycle, has announced the launch of Yubi Mortgage in the UAE. This marks the company’s first B2C product in the region and introduces a new digital pathway for residents, citizens, and non-residents to explore and secure mortgages with confidence and clarity. The launch positions Yubi as a new force in the UAE’s mortgage ecosystem and sets a fresh benchmark for transparency, accessibility, and customer experience.

Yubi Mortgage has been established to address the long-standing challenges faced by homebuyers across the UAE property market. These include limited access to lenders, high process complexity, unclear pricing, repetitive documentation, and limited transparency into application status. These issues often lead to delays, uncertainty, and unnecessary stress for mortgage seekers. Yubi Mortgage eliminates these barriers by providing a single digital platform that connects users to all major lenders in the country.

Yubi MENA has already partnered with 25+ lenders across Retail, SME, and Corporate financing. These partnerships strengthen accessibility for financing across the entire continuum and support the UAE’s broader digital transformation goals.

Home financing seekers can submit a single digital application to access a broad range of retail, Islamic, commercial, private, and digital banks. The platform employs AI and machine learning to classify documents, verify information, assess eligibility, and assist lenders in making quicker decisions. A business rule engine matches borrowers with the most appropriate lenders, helping them avoid costly mistakes from approaching the wrong lender and having to restart the process. Their real-time application tracking keeps users informed at every stage.

For mortgage seekers, the experience becomes simpler, more transparent, and considerably more efficient. For lenders, the platform enhances operational discipline by reducing non-converting applications and optimizing utilization of existing processing capacity. Yubi Mortgage fosters a more balanced and productive mortgage ecosystem for both sides of the market.

Speaking at the launch, Mr. Sivakumar Rajakkannu, Chief Business Officer, Yubi MENA, said: “This is a defining moment for us as we bring Yubi Mortgage to the UAE. Home ownership is one of the most important decisions people make, and our goal is to make the journey as simple and transparent as possible. We want every mortgage seeker to have access to all prominent lenders and to feel fully supported from the first step to the final approval. Yubi Mortgage reflects our commitment to financial inclusion and showcases how technology, AI, and ML can help people make smarter and more confident decisions.”

Yubi’s entry into the mortgage segment builds on its established presence in the UAE, where it has been helping financial institutions and enterprises optimise journeys across the debt and customer lifecycle. Founded in 2020 by CEO Gaurav Kumar, Yubi powers more than $36 Billion in total debt volumes and supports over 17,000 enterprises and 6,200 lenders worldwide. Valued at USD 1.5 Billion, Yubi is backed by globally recognised investors including Peak XV, Lightspeed, Lightrock, TVS Capital, B Capital Group, Dragoneer Investment Group, and Insight Partners. Their support reflects strong confidence in Yubi’s mission to deepen debt markets and democratise access to capital.

Yubi was recently recognised as Fintech Startup of the Year at the Global Fintech Fest 2025. This recognition highlights Yubi’s innovation and leadership across the global financial landscape. The launch of Yubi Mortgage in the UAE further strengthens its mission to simplify, streamline, and modernize the lending ecosystem for both consumers and financial institutions.