Company:Payit.ae
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| Founded | 2018 |
|---|---|
| Headquarters | Abu Dhabi, United Arab Emirates |
| Products | Digital wallet |
| Parent | First Abu Dhabi Bank |
| Website | Payit.ae |
Payit is a digital wallet platform and online payment system for nationals and residents of the UAE.
History
The Payit app was launched by First Abu Dhabi Bank in February 2018 to provide cashless payment options for residents and nationals of the UAE and to support SMEs and local merchants to move their businesses online. [1]
Services
The app is a digital marketplace offering in-app, online, and in-person contactless purchases on mobile devices, enabling users to make payments via mobile phones.
The Payit app allows Emiratis nationals and residents of the UAE to send and receive money, make payments through merchant partner apps and websites or by scanning QR codes. The app also allows its users to split bills with friends and track their spending. [2]
Accounts can be topped up via UAE issued debit and prepaid cards, FAB Cash Deposit Machines, and transfers from UAE bank accounts. Payit customers can also access their money through cardless cash withdrawals at an ATM or by transferring it back to their bank account.
Payit provides two levels of service. The first level requires minimum verification and allows a monthly limit of AED 3,500. The second level requires full verification and gives you access to all of payit’s services with a monthly limit of AED 25,000.
Partnerships
On September 5, 2021 Payit announced a partnership with Aldar Education to launch a digital fee payment service for its schools across the UAE. [3]
On August 19, 2021 Payit announced a partnership with DNIR to support payment acceptance requirements for both in-store and online channels to DNIR customers. [4]
On August 4, 2021 Payit announced a partnership with Platx to enable merchants to collect payments via WhatsApp from their customers. [5]
References
- ↑ "First Abu Dhabi Bank launches Digital Marketplace through payit" (in en). Arabian Business. 2020-10-14. https://gulfnews.com/business/banking/first-abu-dhabi-bank-launches-digital-marketplace-through-payit-1.74560461.
- ↑ "UAE banking giant launches digital wallet payit" (in en). Arabian Business. 2021-03-02. https://www.arabianbusiness.com/banking-finance/390285-uae-banking-giant-launches-digital-wallet-payit.
- ↑ "FAB and Aldar Education launch digital fee payment through Payit" (in en). Arabian Business. 2021-09-05. https://uaetimes.ae/fab-and-aldar-education-launch-digital-fee-payment-through-payit/.
- ↑ "DNIR partners with Magnati, FAB’s payit" (in en). Arabian Business. 2021-08-19. https://www.khaleejtimes.com/business/dnir-partners-with-magnati-fabs-payit.
- ↑ "UAE’s Payit partners with Platx for WhatsApp payments in the region" (in en). Arabian Business. 2021-08-04. https://gulfbusiness.com/uaes-payit-partners-with-platx-for-whatsapp-payments-in-the-region/.
External links
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