Abu Dhabi - Mubasher: Abu Dhabi Islamic Bank (ADIB) launched the region’s first tokenised, contactless payment methods through the options of clasp and ring ‘ADIB PAY’, in partnership with token enablement service provider Tappy Technologies and Visa.
ADIB Visa cardholders can make contactless payments using their watch, ring, or bracelet, with no need to carry a physical plastic card. The new tokenised contactless payment clasp from ADIB can be attached to a multitude of wrist wearables, instantly turning that wearable, ring, or watch into a smart payment device, according to a press release.
Samih Awadhalla, Acting Global Head of Retail Banking at ADIB, said: “ADIB PAY demonstrates our commitment to offering simplicity and convenience to our customers. This is a significant milestone for the bank, and we won’t stop there. Customers can expect more solutions that will help them bank with ease and simplicity.”
Tokenisation is the data security process of replacing actual, sensitive card information with non-sensitive data elements that cannot be exploited even if the ADIB Pay wearable is lost, supporting ADIB’s consistent efforts in providing secure and smart payment options to their customers.
Salima Gutieva, Vice President & Country Manager for UAE at Visa, commented: "Innovation is in Visa's DNA and with the rapid acceleration of digitalisation, it has become more important than ever to introduce new technologies that securely integrate payments into people's everyday lives. Wearable tech is a fast-growing segment, especially as the young and digitally savvy generations increasingly demand a seamless cashless payment experience."
It is worth noting that ADIB PAY will be initially offered to select customers.