Abu Dhabi source by: youtube.com
Thursday, Abu Dhabi Islamic Bank (ADIB) and Tappy Technologies, a token enablement service provider, and Visa, the global leader in digital payments, announced the launch of “ADIB PAY,” the region’s first tokenized, contactless payment method.
The acting global head of retail banking at ADIB, Samih Awadhalla, said, “As we improve our digital capabilities, ADIB keeps putting out new digital payment services. With our partners Tappy Technologies and Visa, we are proud to launch the first tokenized.
Setting up ADIB PAY is easy and doesn’t take long. First, the customer’s ADIB Visa card is turned into a token using the ADIB PAY application, which is powered by Tappy’s Token Enablement Services (TES) solution. Second, the digital card is automatically linked to the chip in the payment clasp using the Universal Passive Provisioning Unit (UPPU), which connects to ADIB PAY via Bluetooth.
Once provisioning is done, the customer can make quick and easy payments with a tap of their wristwatch and see their ADIB PAY transaction history right away in the app.
Tappy CEO Wayne Leung said, “Tappy, a Visa-certified technology partner, uses network token service to protect customer-sensitive payment information on wearable devices. Tappy’s UPPU technology lets consumers digitize their payment cards in seconds and turn their watch into a contactless payment accessory without charging it.”
Visa’s Vice President and Country Manager for the UAE, Salima Gutieva, said, “Wearable technology is a fast-growing market, especially as younger, more tech-savvy generations want to pay for things without cash. By combining Tappy’s technology with our very secure tokenization technology, ADIB can meet their customers’ needs for security and convenience at a time when contactless payments are very important.”