Abu Dhabi - Mubasher: First Abu Dhabi Bank (FAB) and its affiliate Magnati are teaming up with PayRow Net through the Ports Customs and Free Zone Corporation (PCFC) to create a digital payment platform to drive Dubai’s shift towards becoming a cashless economy.

The new platform aims to enhance the existing payment gateway and improve the user experience, according to a press release.

Meanwhile, government entities and merchants will be able to receive payments from their customers in a flexible, unified, and secure manner.

Additionally, the automation of revenue collection will help government entities to improve plans and forecasts, as well as bolster focus on their core business and services.

Through the platform, users can make payments for government services by using a variety of digital methods, including point-of-sale (POS) transactions, card payments, and digital wallets.

In collaboration with PayRow, FAB will issue co-branded prepaid cards to foster seamless and secure payments. The new payment platform aligns with Dubai's efforts to advance the payments landscape across areas that cover civic and government domains, such as utilities, transport, logistics, social services, healthcare, and public convenience.

Mustafa Al Khalfawi, Head of Global Banking UAE & Global Head of Government, Sovereigns & Public Sector at FAB, commented: “FAB’s holistic commitment to technology ensures we keep pace with innovation thereby empowering our partners to grow their digital capabilities.”

Ramana Kumar, CEO of Magnati, said: “This collaboration combines FAB’s technological expertise and Magnati’s payment know-how to transform Dubai Ports’ payment platform and in turn support Dubai’s transition to a cashless economy.”

Last October, the UAE’s Federal Tax Authority (FTA) replaced the eDirham system with FAB’s Magnati to secure enhanced software solutions for online payments.