PHOTO
Abu Dhabi,: Abu Dhabi National Insurance Company (ADNIC), one of the leading regional multi-line insurance providers for corporates and individuals, has partnered with FAB to provide customers with a new easy payment option.
The fully-featured digital wallet in the UAE, payit was launched by First Abu Dhabi Bank (FAB) to support the UAE’s goal to become a cashless economy and to drive digital solutions that benefit both residents and merchants alike.
FAB’s digital wallet is the first of its kind in the region and one of the first integrated sound-based solutions in the world. It is available to all UAE residents with an Emirates ID and is not linked to any specific bank. The secure, low-cost tool will help to streamline payment collection, providing customers with a convenient alternative to cash.
“It gives me great pleasure that ADNIC is partnering with FAB to provide our customers with another best-in-class payment option,” said Abdulla Al Nuaimi, Executive Vice president – Shared Services. “Not only will this innovative payment tool reduce cash handling costs, it will also streamline ADNIC's payment collection. Payit will serve as a cash replacement tool that removes the hassle associated with physical money as the UAE moves closer to becoming a cashless society.”
Hana Al Rostamani, Group Head of Personal Banking at FAB, said: “Our latest partnership with ADNIC is testament to the continued success of payit, and we are delighted to work with one of the largest companies in the UAE on this project. The payments industry is currently undergoing massive change and we aim to be at the forefront of this evolution. Our objective is to enable UAE-wide adoption of payit, using existing infrastructure to deliver a safe, secure and forward-looking payment experience. At FAB we are continuously investing in the development of innovative solutions to deliver value to our clients.”
Ramana Kumar, SVP and Head of Payments at FAB said: “Our solution to ADNIC demonstrates the importance of API banking through payit. We provided immense value to ADNIC through seamless integration and outstanding customer experience. This partnership is a testament to how corporates can drive greater efficiency in working capital and cash flow management.”
ADNIC is continuously seeking to expand its product offering to deliver innovative insurance solutions to individual customers, as well as corporations. Over the past few years, ADNIC has invested heavily in digital product development and partnerships that ensure the company is making use of the latest technology on the market to provide unrivalled services to its customers.
As a testament to its commitment to digital innovation, ADNIC was recently selected for the top honours in Excellence in Insurance Digitisation at Finnovex Awards 2019.
Alongside payit, the insurer offers customers an extensive range of payment methods, including cash, credit card, online using payment gateway, and kiosk at 900 locations.
About Abu Dhabi National Insurance Company
Abu Dhabi National Insurance Company (ADNIC) PJSC is a composite insurance partner with long-standing expertise in providing insurance products to individuals and corporates across the Middle East and North Africa (MENA) region. Founded in the United Arab Emirates (UAE) in 1972, ADNIC has a wide network of branches as well as sales and service centres across the country. ADNIC also has a representative office in London, under the name ADNIC International Ltd. ADNIC is a publicly listed company on Abu Dhabi Securities Exchange (ADX).
For more information, please contact:
Hassan Al Khuwaildi
Senior Manager – Corporate Communications
Abu Dhabi National Insurance Company
M: +971 566855847
D: +971 2 4080421
F: +971 2 4080625
Email: h.alkhuwaildi@adnic.ae
www.adnic.ae
About payit
Payit is the UAE's first fully-featured digital wallet. Send and receive money to anyone instantly 24/7, pay at restaurants and shops, split bills with friends when you eat out and track your spending on the go. Whether you're going out with friends or ordering food online, payit is the easiest way to pay. payit is open to all – it doesn’t matter who you bank with, all you need to start using payit is an Emirates ID. What about sending money overseas? With payit, you can. Download the app and start using payit today!
Web – www.payit.ae
App Store – https://itunes.apple.com/ae/app/payit-wallet/id1291753848?mt=8
Play Store – https://play.google.com/store/apps/details?id=com.payit.wallet
© Press Release 2019Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
