Monday 27 June 2022 - 5:37:44 am

FAB launches Digital Marketplace to support retailers, SMEs and local businesses in moving online


ABU DHABI, 14th October, 2020 (WAM) -- payit digital wallet, powered by First Abu Dhabi Bank, FAB, has launched "Digital Marketplace", which allows small and medium businesses to list and sell their products and services on the platform conveniently and make them accessible to a growing base of payit customers.

The new platform will include a range of products and services, such as groceries, electronics, pharmaceuticals, specialty stores, educational software and others. "Digital Marketplace" also offers a fee collection module where businesses like gyms, educational institutes or rental companies can now collect recurring payments through payit.

Through the platform, merchants can quickly launch a digital business with no set up investment, leverage on payit’s order management system, attract new sales as well as benefit from the merchant support programme.

Hana Al Rostamani, Deputy Group CEO and Head of Personal Banking at FAB, said, "We are committed to supporting SMEs and local merchants and empowering them through our technology infrastructure investments. In an increasingly digital economy, the move to Digital Marketplace is a milestone in the region, as we continue to focus on delivering a safe, secure and cashless transactions to customers."

Ramana Kumar, SVP and Head of Payments and Digital Banking, PBG, FAB, said, "FAB is continuously looking for innovative solutions that benefit both its merchant partners and customer base, and the launch of our Digital Marketplace is an addition to the innovative solutions we offer to our merchants and customers. We are excited about the advantages this new feature brings and we will continue to expand upon payit’s innovative services to provide a comprehensive digital wallet that serves our customers’ needs. We have plans to expand marketplace to other services like remittances in the near future."

WAM/Esraa Ismail/Rasha Abubaker