To encourage the use of digital payments among its customers in the UAE, Abu Dhabi Islamic Bank (ADIB) and Visa have formed an exclusive agreement.
Since Visa has obtained exclusivity over the complete card portfolio of ADIB, including premium products like Visa Infinite Privilege, Visa Infinite, and Visa Signature, ADIB will start aligning all of its protected card and debit card portfolios to the Visa network.
ADIB and Visa have worked together for two decades, with ADIB being one of the first banks to introduce the UAE’s first biometric authentication solution for e-commerce transactions with Visa.
Mohamed Abdelbary, ADIB Group CFO said: “Deepening our partnership with Visa will speed the delivery of solutions for our individual and business banking customers and will enable us to create payment offerings that are unmatched in value and scale, enhancing our customers’ lives. Enhancing our digital capabilities and secure payment is an increasing area of focus for us as we are constantly working towards developing advanced solutions that enable our customers to make payments digitally, in a safe and secure manner.”
The renewed partnership will see both entities continuing to work together to drive the growth of digital payments through data-led solutions, deliver differentiated products in the market using innovative platforms, deepen customer engagement with experiential offerings through Visa’s sponsorship assets, and drive operational efficiencies and cost reduction through Visa’s risk and data solutions.
Dr. Saeeda Jaffar, SVP and group country manager for GCC region, Visa, said: “Over the years, we have worked together with ADIB to develop exclusive products and programs that deliver seamless, secure, and rewarding payment experiences to ADIB cardholders. We remain committed to growing digital payments, bringing more innovative products to market, and delivering customer-centric solutions to benefit cardholders.”
In recent news, ADIB launched its first application programming interface (API) developer portal. The new ADIB API developer portal will drive open banking in the market, allowing fintech developers to build new products that interact with the lender’s platforms.
