UAE - ADNIC partners with FAB through ‘payit’ option
Monday, 05 20 2019, Category: Banking, Country: U.A.E
Abu Dhabi National Insurance Company (ADNIC), one of the leading regional multi-line insurance providers for corporates and individuals, has partnered with FAB to provide customers with a new easy payment option.
The fully-featured digital wallet in the UAE, payit was launched by First Abu Dhabi Bank (FAB) to support the UAE’s goal to become a cashless economy and to drive digital solutions that benefit both residents and merchants alike.
FAB’s digital wallet is the first of its kind in the region and one of the first integrated sound-based solutions in the world. It is available to all UAE residents with an Emirates ID and is not linked to any specific bank. The secure, low-cost tool will help to streamline payment collection, providing customers with a convenient alternative to cash.
“It gives me great pleasure that ADNIC is partnering with FAB to provide our customers with another best-in-class payment option,” said Abdulla Al Nuaimi, Executive Vice president – Shared Services. “Not only will this innovative payment tool reduce cash handling costs, it will also streamline ADNIC's payment collection. Payit will serve as a cash replacement tool that removes the hassle associated with physical money as the UAE moves closer to becoming a cashless society.”
Source: MENA Herald