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Wednesday, November 6, 2024
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FAB and PayRow Net create new payment solution for Dubai Ports

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First Abu Dhabi Bank (FAB), with the support of its affiliate Magnati, has partnered with PayRow Net, a subsidiary of Ports Customs and Free Zones Corporation (PCFC), to build a best-in-class digital payments platform to drive Dubai towards 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, in partnership with PayRow Net, will issue a co-branded prepaid card to facilitate seamless and secure payments.

Mustafa Al Khalfawi, Head of Global Banking at FAB UAE and Global Head of Government, Sovereigns and Public Sectors, said: “We are delighted to partner with PCFC to deliver a seamless solution and build a best-in-class digital payments platform. FAB’s overall commitment to technology Ensuring we keep pace with innovation so our partners can develop their digital capabilities.”

Ramana Kumar, CEO of Magnati, said: “We are delighted to support FAB’s partnership with PCFC and PayRow Net to usher in the next era of digital payment infrastructure. This partnership combines FAB’s technical expertise with Magnati’s payments expertise to Transforming PCFC’s payment platform in turn supports Dubai’s transition to a cashless economy.”

He said 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 of PayRow Net, said the partnership demonstrates the group’s commitment to delivering best-in-class digital payment solutions in line with Dubai’s transition to a cashless economy.

As a key player in the region, the group facilitates a wide range of online payment methods such as internet banking, credit cards, debit cards, e-wallets and cash invoices, he added.trade arab news agency

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