Abu Dhabi: Abu Dhabi Islamic Bank (ADIB), a leading financial institution, has announced the launch of Samsung Pay, the mobile payment and digital wallet service for Samsung devices, for its Visa covered cardholders. Samsung Pay is the first mobile wallet system to be adopted by ADIB.

The partnership allows Visa covered card holders to make payments using their Samsung Pay-enabled devices at any contactless PoS reader around the world. The service will be gradually rolled out for Visa debit cards and the bank’s MasterCard portfolio over the next period.

The launch was marked with a launch event held at ADIB’s headquarters and attended by senior regional representatives of Samsung, Visa and ADIB.

Philip King, Global Head of Retail Banking at ADIB, said: “ADIB’s Visa covered cardholders can use the convenient Samsung Pay service to make payments with a single touch of a smartphone or smartwatch anywhere contactless payments cards are accepted. This secure and simple process represents the future of payments and is further demonstration of ADIB’s commitment to provide innovative digital banking solutions to customers.”

“The UAE consumers are digitally in-tune and continue to seek and harness the convenience of digital-first solutions,” said Mohammad Gharaibeh, Head of Enterprise – Mobile Business at Samsung Gulf Electronics. “We are delighted to begin working with ADIB to give its customers access to the mobile payment technology that is revolutionizing the checkout process and enabling users to enjoy the seamless simplicity of Samsung Pay with almost every transaction.” ADIB is currently undergoing a digital transformation strategy to enhance the customer experience. An initial phase in the bank’s digital development programme was the launch of ADIB Express, a new generation of technology-enabled branches balancing automation with a highly-personalised experience. This has been complemented by pioneering mobile services such as Express Finance, which enables approved customers to receive funds in as little as 30 minutes through ADIB’s mobile App. ADIB continues to experience rapid growth across its digital channels, with over 2 million mobile transactions now initiated via the ADIB mobile banking app every month.

Shahebaz Khan, Visa’s General Manager for the UAE, said: “We are delighted to partner with ADIB to launch Samsung Pay, the first mobile wallet service enabled for the bank’s Visa cardholders. Samsung Pay uses Visa’s tokenization technology to secure transactions by replacing the 16-digit card number with a token. During a transaction, the token – not the actual card information - is submitted into the payment process so Visa cardholders can enjoy the quick and seamless experience of a contactless transaction with the confidence that their transactions are protected.”

The bank has received numerous awards for its leading banking proposition in recent months, including ‘Best Islamic Financier’ at the International Trade Finance Awards 2019, ‘World’s Best Islamic Bank’ by the FT’s The Banker Magazine, ‘Best Premium Banking Service in the UAE’ from Banker Middle East, and ‘Best Islamic Bank’ at the EMEA Banking Awards.

-ENDS -

About ADIB 

ADIB is a leading Islamic bank with more than AED 124.6 billion in assets. Established in 1997, the bank provides world-class, Sharia’a-compliant retail, corporate, business, private banking and wealth management solutions through award-winning digital channels and across an extensive branch network. The bank has a presence in six strategic markets, including Egypt, where it has 70 branches, the Kingdom of Saudi Arabia, the United Kingdom, Sudan and Iraq. Its shares trade on the Abu Dhabi Stock Exchange (ADX).

ADIB has more than 2,000 employees and remains one of the leading banks in the recruitment, development and promotion of local talent across all of its geographies. The bank has one of the highest Emiratization ratios and approximately 36 percent of the bank’s workforce are UAE nationals.

Named ‘World’s Best Islamic Bank’ by the Financial Times’ The Banker publication, ADIB has a rich track record of innovation based on a desire to always improve its customers’ banking experience. Amongst other benefits, the bank’s recent digital transformation programme has led to the creation of a new generation of technology-enhanced branch, ADIB Express, which combines the benefits of digital banking with a highly-personalised customer service, and Express Finance, providing qualifying customers with access to personal finance through a mobile app in less than 30 minutes.

For media information, please visit www.adib.ae or contact:

ADIB                                                      Brunswick Group

Radwa Shehab                                  Sarah Abdelbary

Head of External Communications                          Account Director

Direct: +971 2 6910169                                   Direct: +971 2 234 4600

Mobile: +971504734482                                                Mobile: +971561748649

© Press Release 2019

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