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FAB and Aldar Education launch digital fee payment through Payit

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The Payit digital wallet is supported by Abu Dhabi First Bank (FAB), the largest bank in the UAE and one of the largest and most secure financial institutions in the world. The wallet has partnered with Aldar Education, a leading private education provider in the UAE, to launch a new Digital fees are paid to serve its schools.

By using payit’s newly launched fee module on its most advanced digital platform, the partnership provides a complete and simple solution to start receiving payments digitally, and parents will benefit from paying tuition and any other payments Convenient apps to provide a complete and seamless cashless experience.

As a leading private education provider in the UAE, Aldar Education currently operates a network of 20 schools in Abu Dhabi and Al Ain. Aldar Education is one of the first adopters of the payit digital fee module, which is specially built for schools and educational institutions. This module provides a seamless method for collecting recurring payments, which can be easily set up, providing real-time notifications and a specially constructed portal and automatic report generation to achieve seamless reconciliation and background operations. The module can be customized to meet specific business needs and enable customers to benefit from targeted value promotions and activities from FAB ecosystem partners.

Ramana Kumar, CEO of Magnati Said: “We are very happy to support Aldar Education through this partnership, which is a win-win for parents and schools, and is in line with our ambition to support the transition to a cashless economy. Using payit technology, Aldar Education will now be able to All of its schools accept cashless digital payments, from recurring payments (such as tuition fees) to one-time fees such as field trips. This participation is just the beginning, because we have partnered with Aldar Education to take full advantage of the power of our platform and build a focus on Digital use cases for parents, students, etc. This partnership will allow Aldar Academies to focus more on providing excellent education to students.”

Chris Wilson, Chief Financial Officer, Aldar Education Said: “We are very happy to work with FAB to provide parents with a seamless and easy payment experience through payit. As the digital age technology has changed the way we interact and conduct business, it is for us to find a solution that suits our family Very important. Working with payit provides an easy-to-use and uninterrupted payment system that complements our flexible payment plan to support parents.”

He added: “At Aldar Education, we put innovation and digitalization at the forefront of everything we do, strive to meet the needs of the school community, and provide our parents and students with the most advanced educational services.”

Launched in 2018, payit is the UAE’s first fully functional digital wallet and the UAE’s first lifestyle payment wallet that can be accessed via any smartphone. Anyone with a valid UAE ID can use the safe and reliable service, no matter who they open the bank with, and the registration process takes less than two minutes.

Using payit, Emirati and residents can send and receive money instantly, make purchases at partner merchants, websites and even payment markets, so that they can share bills with friends and track their expenditures. Users can also make zero-fee international remittances to selected countries/regions. With just a few clicks of the app, they can safely, predictably and quickly transfer funds to their bank accounts, mobile phones and digital wallets.

Download the payit application from the App Store or Google Play Store.For more information, please visit https://www.payit.ae/.

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