40,000 UAE merchants integrated PayBy in FAB machines
In an announcement made by PayBy, the company reports that its suite of payment solutions has been integrated with 40,000 First Abu Dhabi Bank (FAB) issued point of sales machines. The total integrations mark a major milestone for the two organisations’ strategic partnership, and expected to have a significant impact on driving digital payments in the UAE.
“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,” commented Ramana Kumar, EVP and Head of Payments and Digital Banking, PBG, FAB.
PayBy reports that merchants that sign up to its mobile payment option can benefit from capabilities to grow customer bases and capture lost sales opportunities.
With the integration expected to increase the number of merchants accepting payments via PayBy from customers, PayBy has - in recent months - partnered with multiple UAE retailers including LuLu Group, Al Ain Coop and Jumbo Electronics.
In addition to merchant benefits, consumers can use PayBy without credit cards or bank accounts to make digital payments. Consumers will also be able to use PayBy’s loyalty program and vouchers with FAB merchants. With voucher and discount schemes announced via its social media and app.