- Abu Dhabi – the statement
Date: 04 November 2020 First Abu Dhabi Bank has partnered with Visa, with the aim of providing an innovative technical solution that allows merchants in the country to accept payments via mobile phones. Merchants can use the new Tap to Phone technology to accept contactless payments via Android smartphones.
This partnership contributes to consolidating the leading position of First Abu Dhabi Bank as a leading provider of payment services in the UAE, in line with content and objectives, with the country’s strategy aimed at promoting digital payments, right up to the stage of the cashless economy. Thus, merchants can accept contactless payments via Android smartphones, using Near Field Communication (NFC) technology, without the need to invest in a separate traditional payment device.
And contactless payment technologies were widely adopted in the country, even before the Covid 19 pandemic, which greatly accelerated this trend, and the percentage of contactless payments in September 2020 reached 71% of the total digital payment transactions in the country.
The launch of “Tap to Phone” technology, the latest initiative of First Abu Dhabi Bank, aimed at enabling merchants to provide a smoother and safer experience to their customers. This new service is available to merchants and institutions, in different sectors.
Hana Al Rostamani, Group Executive Vice President and Head of Consumer Banking at First Abu Dhabi Bank, said: “This partnership between First Abu Dhabi Bank and Visa, which resulted in the innovative ‘Tap to Phone’ technology, aims to support digital transformation in the payments sector, and to enrich and diversify the services available. In front of clients.
She added that providing advanced payment solutions, and making them available to all sectors, is an important step, especially during this stage, in which consumers increasingly tend to rely on electronic payments in all their purchases, in light of the effects of the Covid 19 pandemic, as a safer alternative to methods The traditional cash payment, which was popular before. First Abu Dhabi Bank contributes to supporting this initiative, by employing its great potential in the payment processing sector, whether it is in points of sale or via e-commerce platforms.
For his part, Ramana Kumar, Senior Vice President, Head of Payments and Digital Banking Services Division, Retail Banking Division at First Abu Dhabi Bank, said that the disclosure of Tap to Phone technology reflects the depth of our commitment to our business partners in the UAE, and at the same time Under the umbrella of the Payment as a Platform initiative, which was previously announced by the bank, this cooperation, which brings us together with Visa, will provide many important benefits to merchants, and we look forward to strengthening our partnership with Visa, to work together To reduce reliance on cash payments, in support of the UAE’s vision, which aims to transform into a digital economy.
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