23 November 2024, Sat |
4:33 AM
Abu Dhabi Islamic Bank (ADIB) announced the launch of 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 global digital payments leader, Visa.
Samih Awadhalla, Acting Global Head of Retail Banking at ADIB said “ADIB continues to roll out innovative digital payment services as we further develop our digital capabilities. We are proud to launch the region’s first tokenised, contactless payment clasp with our partners Tappy Technologies and Visa.”
For ADIB PAY, the setup is quick and easy. The accompanying ADIB PAY application, which is powered by Tappy’s Token Enablement Services (TES) service, first tokenizes the customer’s ADIB Visa card. Second, the digital card is automatically provisioned to the chip inside the payment clasp using the companion Universal Passive Provisioning Unit (UPPU), which links to ADIB PAY via Bluetooth.
After setup is finished, the user can access their ADIB PAY transaction history in the application right away and make quick and simple payments with the tap of their wristwatch.
Wayne Leung, CEO of Tappy Technologies said “As a certified technology partner of Visa, Tappy extends the power of network token service to safeguard customer-sensitive payment credentials on wearable devices. With the Tappy developed UPPU technology, consumers can digitise their payment cards within seconds and transform their traditional timepiece into a contactless payment accessory without ever needing to recharge it.”
Salima Gutieva, Vice President & Country Manager for UAE at Visa said “Wearable tech is a fast-growing segment, especially as the young and digitally savvy generations increasingly demand a seamless cashless payment experience. By combining Tappy’s technology with our highly secure tokenisation technology, ADIB can meet their customers’ need for security and convenience at a time when contactless payments are very important.”
