Is Abu Dhabi's future cash-free?

New app aims to make it easier to manage your money

The Knowledge

It’s about to get so much easier to spend your hard earned money on the things you like in Abu Dhabi.

A new app has been launched which could see people ditch cash and go fully digital with their spending.

‘payit’, an First Abu Dhabi Bank initiative, claims to be the UAE’s first digital wallet and aims to make the country a cashless society.

So paying for things like restaurant bills or groceries can be done without the need for a pocket full of coins and paper notes.

Users can send and receive money instantly at any time, make payments through merchant partner apps, websites or by scanning QR codes, which is a first for the UAE.

Accounts can be topped up via UAE issued debit and prepaid cards, most FAB Cash Deposit Machines, and transfers from any UAE bank account.

Customers can also easily access their money through cardless cash withdrawals at an ATM or by transferring it back to their bank account.

Hana Al Rostamani, Group Head of the Personal Banking Group at First Abu Dhabi Bank, said: “In line with our objectives to become a leader in innovation and customer-centric banking experiences, ‘payit’ is a new mobile wallet solution that allows UAE residents to send and receive payments whenever and wherever they are, instantaneously.

“‘payit’ provides an easy and convenient alternative to physical cash, which benefits merchants and customers and is aligned with the UAE’s ambition to become a cashless economy.”

The safe and secure service is available to anyone with a valid Emirates ID, no matter who their bank is.
The app can be downloaded now.

For more information, visit www.payit.ae.

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