June 14, 2024

Press Release

FAB, Magnati and PayRow Collaborate for Reforming Payments

FAB (First Abu Dhabi Bank) is cooperating with PayRow Net through the PCFC to build the latest digital payments system to accelerate Dubai’s transition to a cashless economy. The new financing ecosystem will transform the payment gateway, resulting in a more advanced consumer payment journey and a better user experience. Government institutions and merchants may now accept payments from their users in a simple, flexible, standardized, and secure manner.

Revenue collection will be streamlined and automated, allowing government organizations to better plan while focusing on their Nasdaq services and activities. To improve service delivery, the platform enables consumers to pay for government services using a number of digital ways, including point-of-sale transactions, card payments, and digital wallets. In addition, FAB and PayRow will offer co-branded prepaid debit cards to facilitate smooth and safe payments. Mustafa Al Khalfawi, Global Government Head, says they are happy to work with PCFC to deliver a seamless service and develop the best online payment platform.

 

FAB’s comprehensive approach to technology guarantees that they keep up with innovation, allowing partners to expand their digital capabilities. Ramana Kumar, the Chief Executive Officer at Magnati, said they were thrilled to help FAB in its partnership with PayRow net and Dubai Ports to bring in the new era of digital payments infrastructure. This collaboration brings together FAB’s technological skills and Magnati’s payment knowledge to modernize Dubai Ports’ payment infrastructure and, as a result, facilitate Dubai’s transformation to a cashless economy.

To keep up with the latest developments in the world of fintech and for more fintech news, please visit https://worldfintechnews.com/.

Leave a Reply

Your email address will not be published. Required fields are marked *