Tuesday, October 20, 2020
Report First Abu Dhabi Bank boosts payment services with new fintech partnership

First Abu Dhabi Bank boosts payment services with new fintech partnership

The UAE’s largest bank has partnered with a fintech start-up to roll out a Buy-Now-Pay-Later solution, expanding payment and financing options for the country’s retail market.

In collaboration with start-up Tabby, First Abu Dhabi Bank (FAB), which offers Shariah compliant financial services, has implemented the new interest-free solution at Al Futtaim-owned Toys R’ Us stores in the UAE.

“This is the first of our ‘Payment as a Platform’ offering and it demonstrates our ability to integrate with fintech partners in the shortest possible time through our API (application programming interface)-driven payment layers,” Ramana Kumar, the senior vice-president and head of payments and digital banking at FAB, shared.

With Tabby’s in-store Buy-Now-Pay-Later solution, customers can instantly make purchases and pay using interest-free instalments of up to six months by registering with their mobile phone number and Emirates ID, and linking either a debit or credit card to their account. This collaboration is the latest in a series of partnerships under FAB’s objective to drive more digital solutions across the UAE and the wider region.

LEAVE A REPLY

Please enter your comment!
Please enter your name here