More than 30,000 UAE merchants integrate PayBy in FAB payment machines, driving digital payments
UAE fintech enterprise PayBy has a suite of payment solutions, now integrated with 40,000 FAB-issued point of sale machines
ABU DHABI, UAE; 18 November, 2020: Abu Dhabi-basedinnovativefintech enterprisePayBy hasunveiled a major milestone in its strategic partnership with First Abu Dhabi Bank (FAB). PayBy is now integrated with more than 40,000 point of sale (PoS) machines at more than 30,000 FAB merchant partners in the UAE. This integration is expected to have a significant impact on driving digital payments in the UAE – for both merchants and consumers.
Ramana Kumar, EVP and Head of Payments and Digital Banking, PBG, FAB, said: “With the integration of PayBy with our Payment as a Platform, we are leveraging our strength as the UAE’s fastest growing payment service provider to offer more convenience and boost revenue growth for our merchant customers. FAB has always been committed to driving digital payments in the UAE, and our partnership with Payby to enable acceptance of their digital wallet across our POS merchant network will support this goal.”
Merchants signing up for PayBy’s mobile payment option benefit from growing their customer base and capturing lost sales opportunities. PayBy can be used by consumers without credit cards or bank accounts to make digital payments.
The integration will substantially increase the number of merchants that accept payments through PayBy from customers. Over the last few months, PayBy has bagged partnerships with many of the UAE’s top retailers, such as the Lulu Group, Al Ain Coop and Jumbo Electronics. PayBy customers in the UAE will have more places to use PayBy, and avail discounts, loyalty schemes and cashless payments.
Consumers will also be able to use PayBy vouchers and its loyalty program at FAB merchants. Schemes for vouchers and discounts are announced through PayBy’s social media and app. Users who have completed the profile with ID verification are credited with AED 10 voucher in their PayBy wallets.
PayBy is a fintech company with world-class payment infrastructure that provides a fast, secure, AI-powered, one-stop payment solution. The company is committed to offering unified and inclusive financial services for everyday work and life, connecting with people around the world. PayBy collaborates with a variety of leading institutions, enterprises, and e-commerce platforms, as trusted partners.