First Abu Dhabi Bank (FAB), the UAE’s largest bank and one of the world’s largest and safest financial institutions, has launched a new sound-based payment system through its digital wallet payit. First Abu Dhabi Bank has launched a sound-based payment system that will integrate with users’ digital wallets. The service will be launched at the Gitex Shopper event, where consumers can use it for the first time. According to an announcement on its website, the new payments platform is designed “to provide customers with more convenient and secure ways of paying using their mobile devices.” Merchants do not have to invest in new hardware for the system as it works through electronic cash registers, point of sales machines and even the mobile phones of the merchants, allowing for real-time settlement of transactions.
First Abu Dhabi Bank has launched a sound-based payment system that will integrate with users’ digital wallets. The service will be launched at the Gitex Shopper event, where consumers can use it for the first time. According to an announcement on its website, the new payments platform is designed “to provide customers with more convenient and secure ways of paying using their mobile devices.” Merchants do not have to invest in new hardware for the system as it works through electronic cash registers, point of sales machines and even the mobile phones of the merchants, allowing for real-time settlement of transactions.