Fintech PayBy launches mobile payment services in UAE

Fintech firm PayBy has launched its mobile payment services in the UAE on Monday, March 30.

In collaboration with First Abu Dhabi Bank, PayBy will offer a secure payment solution facilitating consumers to use their smartphones for contactless and cashless payments in physical stores, official news agency WAM reported.

Customers, via their smartphones, will also be able to order essentials online, pay for deliveries on arrival, transfer and receive money, and share cash gifts with family and friends.

In addition, PayBy offers Point of Sale (POS) solutions for all businesses in the UAE, which will support local businesses in reaching out to a wider consumer base.

All financial transactions on PayBy stand well-protected by underpinning technologies, such as an AI-based fraud management system to detect unauthorised activities, in accordance to the Payment Card Industry Data Security Standard (PCI-DSS).

PayBy’s launch partners include the Lulu Hypermarket and Express, grocery stores, and messaging platforms such as Botim and ToTok.

Consumers will also be able to download the PayBy app onto their smartphones in April this year.