Dubai, UAE: First Abu Dhabi Bank has partnered with MoneyGram (NASDAQ: MGI), a global provider of innovative money transfer and payment services, to launch the latter’s services through the bank’s payit mobile wallet in the United Arab Emirates (UAE). As the first fully-featured digital wallet in UAE, payit is now connected to MoneyGram’s innovative, cross-border money transfer platform.
With the World Bank estimating that individuals in the UAE send more than $44 billion in remittances each year, and with smartphone penetration in the country now approaching 80%, the partnership enables more consumers in the UAE to send money from their payit wallet balance to friends and family in over 200 countries and territories.
“We are delighted to be offering MoneyGram’s money transfer service as part of our mobile wallet. Payit is the only mobile wallet in the UAE that offers MoneyGram’s transfer services and this partnership will help strengthen the capabilities of our pioneering app, in line with our strategy of bringing best-in-class digital financial services to our clients,” said Ramana Kumar, svp & head of payments, personal banking group at First Abu Dhabi Bank (FAB).
“The UAE is home to more than 200 nationalities who live in a society that aspires to be at the forefront of technological innovations,” said Ahmed Aly, head of Middle East for MoneyGram. “We believe this partnership helps deliver a modern and state-of-the-art solution to what is an everyday need for a large percentage of that population.”
Payit mobile wallet is available on Apple Store and Google Play Store.
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About MoneyGram
MoneyGram is a global provider of innovative money transfer and payment services and is recognized worldwide as a financial connection to friends and family. Whether online, or through a mobile device, at a kiosk or in a local store, we connect consumers any way that is convenient for them. We also provide bill payment services, issue money orders and process official checks in select markets. More information about MoneyGram International, Inc. is available at www.moneygram.com .
About payit
Payit is the UAE's first fully-featured digital wallet. Send and receive money to anyone instantly 24/7, pay at restaurants and shops, split bills with friends when you eat out and track your spending on the go. Whether you're going out with friends or ordering food online, payit is the easiest way to pay. Payit is available to all – it doesn’t matter who you bank with, all you need is an Emirates ID. What about sending money overseas? With payit, you can. Download the app and start using payit today!
Web – www.payit.ae
App Store – https://itunes.apple.com/ae/app/payit-wallet/id1291753848?mt=8
Play Store – https://play.google.com/store/apps/details?id=com.payit.wallet
CONTACT:
MoneyGram
Media Relations:
Wendi Schlarb
214-999-7687
media@moneygram.com
First Abu Dhabi Bank
Vinod Nagar
Vinod.nagar@bankfab.com
First Abu Dhabi Bank
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