Thursday, December 3, 2020
Report First Abu Dhabi Bank pilots new payment platform for merchants

First Abu Dhabi Bank pilots new payment platform for merchants

The largest bank in the UAE has launched a pilot payment solution designed for merchants, with a view of rolling out at a larger scale in the coming months.

 

The new service by First Abu Dhabi Bank (FAB) consolidates all the payment needs of merchants into a single, digital-first, secured package. The bank in a statement explained that the platform can converge card payments, new payment methods including domestic and international digital wallets, loyalty programs, QR solutions, and value-added services such as buy-now-pay-later and easy-instalment plans, onto a single service layer. It will also support users in launching their own offerings, such as gift cards or prepaid cards. Merchants can connect to the platform through a single API-driven integration, where they will be able to access the complete scope of built-in payment services.

 

“FAB will partner with retailers and merchants not only to optimize their technology investments, but to also drive a unified customer experience, and to support real-time offers and campaigns to promote growth. We will continue to invest in the right strategic payment platforms to support our customers’ needs and help them grow stronger,” shared Hana Al Rostamani, FAB’s group head of personal banking.

According to the bank, in addition to payment layers, this service from FAB provides the merchants an omni-channel solution to deliver a unified customer experience across multiple brands, locations or touch points. AI-driven data monetization tools that drive real-time campaigns utilizing brand affinity and brand referral models are also provided. There are plans to continuously update the platform to integrate new features and payment methods.

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