Government entities and merchants will now be able to receive payments from their customers in an easy, flexible, unified, and secure manner. The streamlining and automating of revenue collection will also help government entities to better plan and forecast as well as focus on their core business and services.
First Abu Dhabi Bank (FAB) with the support of its affiliate, Magnati, is collaborating with PayRow Net through the Ports Customs and Free Zone Corporation (PCFC) to establish a digital payment platform to spur Dubai’s shift towards becoming a cashless economy.
To improve the delivery of services, the platform enables users to make payments for government services through a variety of digital methods, including point of sale transactions, card payments and digital wallets. Additionally, FAB in collaboration with PayRow will issue co-branded prepaid cards to promote seamless and secure payments.
As Dubai consistently ranks as the smartest city in the Middle East and North Africa, smart payment technology such as this new ecosystem will continue to play a critical role in achieving the smart vision of the city alongside Dubai’s shift towards becoming a cashless economy.