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FAB, Magnati and PayRow Net join forces to create payment solutions for the Dubai Ports industry
Ports, Customs and Free Zones Corporation’s (PCFC) Digital Payments Ecosystem to Advance Customer Payment Journey and Contribute to Dubai’s Smart City Vision
Abu Dhabi, December 23, 2022: First Abu Dhabi Bank (FAB), with the support of its affiliate Magnati, through Ports Customs and Free Zones Corporation (PCFC), has partnered with PayRow Net to build a best-in-class digital payments platform to drive Dubai towards becoming a cashless economy.
The new payment ecosystem will transform existing payment gateways, bringing more advanced customer payment experience and better user experience.
Government entities and merchants will now be able to receive payments from customers in a simple, flexible, unified and secure manner. Simplification and automation of tax collection will also help government entities plan and forecast better and focus on their core businesses and services.
To improve service delivery, the platform enables users to pay for government services through various digital means, including point-of-sale transactions, card payments and digital wallets. Additionally, FAB will partner with PayRow to issue a co-branded prepaid card to facilitate seamless and secure payments.
Mustafa Al Khalfawi, Head of Global Banking, UAE and Global Head of Government, Sovereign and Public Sector, FAB Said: “We are delighted to be working with PCFC to deliver seamless solutions and build a best-in-class digital payments platform. FAB’s total commitment to technology ensures we keep pace with innovation, enabling our partners to enhance their digital capabilities.”
Ramana Kumar, CEO of Magnati, said: “Magnati is pleased to support FAB’s partnership with Dubai Ports and PayRow Net to usher in the next era of digital payments infrastructure. This collaboration combines FAB’s technical expertise and Magnati’s payments expertise to transform payments at Dubai Ports platform and in turn supporting Dubai’s transition to a cashless economy.”
As Dubai is consistently ranked as the smartest city in the MENA region, smart payment technologies such as this new ecosystem will continue to play a key role in realizing the city’s smart vision as Dubai transitions to a cashless economy.
The new payments platform is a continuation of Dubai’s efforts to advance the cross-sector payments sector, covering civic and government areas such as utilities, transport, logistics, social services, healthcare and public convenience.
Ghanim Bin Wogayeh, CEO, PayRow Net said: “We are delighted to partner with FAB, with the support of its affiliate Magnati, to expand our payment services by providing enhanced solutions to improve the customer journey. This partnership demonstrates our commitment to delivering best-in-class digital payments.” Commitment is in line with Dubai’s solution to transition to a cashless economy.”
PayRow Net Payment Services and Technologies Solutions LLC, a subsidiary of Ports Customs and Free Zone Corporation (PCFC), is facilitating access to a wide range of online payment methods such as Internet Banking, Credit Cards, Debit Cards by partnering with third party payment service providers , electronic wallet, cash invoice, etc. These methods not only improve the customer experience, but also ensure that customer transactions are conducted safely and securely.
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