FAB and Abu Dhabi University Partner To Provide Card Payment Solutions

Press release
Published November 12th, 2020 - 08:26 GMT
FAB and Abu Dhabi University Partner To Provide Card Payment Solutions
First Abu Dhabi Bank
Highlights
First Abu Dhabi Bank has partnered with Abu Dhabi University to provide card payment acceptance solutions for its students.

First Abu Dhabi Bank (FAB), the UAE's largest bank and one of the world's largest and safest financial institutions, has partnered with Abu Dhabi University to provide card payment acceptance solutions for its students.

The partnership will see FAB continue to build its leadership position in the payments space and enable Abu Dhabi University to provide best-in-class card payment acceptance services to its students.

With education payments traditionally reliant on cheques and bank transfers in the UAE, the service will provide significant benefits to customers. FAB is facilitating the move by extending payment processing through point of sale, ecommerce and, in time, digital invoicing. Abu Dhabi University currently has over 7,500 students enrolled across its campuses and corporate programmes for which FAB will be able to provide payment services for collection of tuition payments.

Ramana Kumar, EVP and Head of Payments and Digital Banking, PBG, FAB, said: “We are delighted to provide consumer cards payment acceptance services to Abu Dhabi University. This partnership demonstrates FAB’s commitment to offer digital payment solutions to all sectors, and will benefit the students of Abu Dhabi by allowing them to make payments online for their tuition and other fees. With our “Payment as a Platform” offering, we will be adding even more services whereby a full range of payment needs are consolidated in a single digital-first package.”

“FAB is a leading force for expanding the payments sector and we continuously explore opportunities to build on that success and drive further innovation. We recently announced plans to carve out FAB’s existing payments business into a fully owned subsidiary with regional growth ambitions, accelerating our digital transformation and enhancing our competitive position in the payments space.”

Ian Mathews, Vice Chancellor for Financial and Administrative Affairs at Abu Dhabi University, said; “Abu Dhabi University is proud to be associated with FAB and is pleased to be partnering with them to offer a complete cash management solution in addition to other services that help our students in these challenging times. We look forward to a fruitful relationship with FAB and to bring further innovative and beneficial financial offerings to our community in the future”.

FAB recently announced plans to expand its payments business through a fully owned subsidiary. The subsidiary will help government, merchant and institutional clients grow their core businesses by providing customised payment solutions and value-added services to seamlessly integrate and optimise technology investments, driving a superior customer experience and operational cost efficiencies

Background Information

First Abu Dhabi Bank

FAB, the UAE’s largest bank and one of the world’s largest and safest institutions, offers an extensive range of tailor-made solutions, and products and services, to provide a customised experience. Through its strategic offerings, it looks to meet the banking needs of customers across the world via its market-leading Corporate and Investment Banking and Personal Banking franchises.

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