NBAD wins Best Mobile Payment Application for its Arrow Mobile Application

Press release
Published May 24th, 2011 - 10:13 GMT

Designed to recognise outstanding achievements which have positively contributed to the development of the smart card and mobile money industry in the Middle East, the Smart Card Awards are a key indicator of industry innovations. The National Bank of Abu Dhabi (NBAD) has steadily pushed ahead with new services that make a real difference to users. The bank has now been announced as the winner of Best Mobile Payment Application for its NBAD ARROW Mobile Application, which is based on mobile financial solutions from Luup. 

NBAD, which is the first UAE Bank to offer mobile phone banking, has a long standing partnership with Luup to mobile enable a wide range of services, such as mobile remittances Luup offers banking-grade mobile payments and financial services solutions to its customers or partners and also manages the service.  

The Smart Card Awards are awarded at Cards and Mobile Money World Middle East, a leading conference that also featured Luup on a roundtable debate with several key partners in the region. Entitled “leveraging the mobile platform for financial inclusion” the expert panelists share insight into how unbanked people can be securely and conveniently connected to financial services through the mobile platform. 

Morten Hofstad, Regional Director Middle East, Africa and India for Luup, outlined: “Social inclusion relies on offering unbanked users, such as migrants, options to easily manage money and transfer funds to other geographies. Luup has been building a seamless mobile remittances ecosystem in the Middle East. One of our strategic partners is NBAD and their win for Best Mobile Payment Application is a clear sign of the value such services bring to the region.” 

Ahmed Al Naqbi, Head of Direct Banking & E-Development at NBAD, said: “NBAD’s Arrow mobile phone service has been a great and welcome tool in the market. Arrow has provided a quick and convenient banking tool and it has also expanded banking services to the unbanked population of the UAE. NBAD will continue to expand the growing and important smart phone services and we are determined to be at the forefront of mobile phone banking in the Arab world.”

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