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Payit digital wallet, powered by First Abu Dhabi Bank (FAB), the UAE’s largest bank and one of the world’s largest and safest financial institutions, and Magnati, the fully owned payment subsidiary of FAB, has partnered with WOW Electronics Transport Services to launch state of the art digital payment service for its leaders and their riders.
With this partnership, WOW riders can now make cashless mobile payments for their rides seamlessly using the payit digital wallet from within the comfort of the WOW cars. In addition to this, the WOW app has been powered by the payment gateway solution as well as empower its leaders with payroll cards offered by Magnati. Link the payroll cards can be seamlessly to the payit wallets of these leaders enabling them to benefit from the various digital payment services offered by the wallet platform.
As one of the newest and fast-growing ride-hailing apps in the UAE, WOW will leverage on the platforms to operate a complete digital and cashless payment operation offering their riders multiple convenient payment methods with a best-in-class customer experience.
Bader Alzaabi - President of WOW
“We thank First Abu Dhabi Bank for recognizing and supporting young and new projects of technologies. Now Regarding WOW and Payit, the world changes, financial and commercial transactions change, cash and methods of managing their change, thanks to the combination of technology and mental experiences in the service of humanity. So why not develop and adapt with the development of man and the means in his hand, which facilitates him and reduces distances, saves effort and time in various fields. With these digital tools, we can reduce work gaps and focus on addressing the needs that we aspire to reach, design, and support with our means and ideas from artificial intelligence available with continuous creativity ideas. WOW and Payit is one of those means that need ideas and are the continuous creativity in the development of the world.”
Ramana Kumar – CEO, magnati
“We are pleased to partner with WOW with this partnership and support them in their endeavor to operate a digital-centric business. As payments are core to their offerings, Payit and Magnati offer them the perfect digital solutions to power their business as they look to expand across the UAE. This partnership is a testament to the robustness of our platforms, which offers businesses like WOW tailored-made solutions.
Launched in 2018, payit is UAE’s leading digital wallet offering a whole host of lifestyle payment solutions for its users – both consumers and merchant partners alike. This free, safe, and secure app can is available to anyone with an Emirates ID regardless of their banking relationship and enabling them to benefit from the payit ecosystem services.
Magnati is the carve-out of FAB’s payments business and its transition from a transactional to a data-driven and platform business. Magnati is a fully owned FAB subsidiary, strengthening the Group’s leadership position in the rapidly expanding payments sector and accelerating its digital transformation agenda.
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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 are going out with friends or ordering food online, payit is the easiest way to pay. payit is open to all – it doesn’t matter who you bank with, all you need to start using payit is an Emirates ID. 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
About Magnati
Magnati is the new name for the payments business of First Abu Dhabi Bank (FAB), the UAE’s largest bank and one of the world’s safest financial intuitions. Focused on direct acquiring, issuer processing, and acquiring processing, Magnati provides government, merchant, and institutional clients with an intelligent payments platform that monetizes data, using next-generation technology to deliver improved experiences and increased efficiency. The Magnati brand is charged with energy and potential and is set to transform payments into possibilities. With the power of FAB’s expertise and infrastructure at the core, Magnati will attract regional and global partners, setting a new standard for innovation and delivery in the payments industry. Magnati is a fully owned FAB subsidiary, strengthening the Group’s leadership position in the rapidly expanding payments sector and accelerating its digital transformation agenda.
About WOW
WOW is a global smartphone ride-hailing application that allows passengers to book a ride from any desired pickup location with the WOW App. The technology platform aims to give a feasible, affordable, safe and secure taxi service that is controlled from the convenience of a phone. WOW has recently launched its field operations in Dubai, as the company is approved and recognized by RTA. WOW objective is to ease the commuting network from one place to another and have the freedom of timekeeping concentration at their work. WOW is going to become the first choice of the people of UAE while having its presence internationally over major countries including the United States of America, United Kingdom, France, and Pakistan. WOW has a team of industry experts from transportation, technology, management, and governance who together manage and deliver truly valued services to its customers.
Visit our website www.wowets.com for more information. Also, download our applications by scanning QR Code through this link https://www.wowets.com/applications
© Press Release 2021
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