Home Industry Technology Abu Dhabi Islamic Bank launches tokenised, contactless payment method Once provisioned, customers can make quick and easy payments with the tap of their wristwatch and instantly view their transaction history in the app by Gulf Business December 29, 2022 Abu Dhabi Islamic Bank (ADIB), in partnership with token enablement service provider Tappy Technologies and Visa, has launched a tokenised, contactless payment method through the options of clasp and ring ‘ADIB PAY’. Samih Awadhalla, acting global Head of Retail Banking at ADIB, said, “We are proud to launch the region’s first tokenised, contactless payment clasp with our partners Tappy Technologies and Visa.” The set-up process for ADIB PAY is simple and quick. First, the customer’s ADIB Visa card is tokenised via the supporting ADIB PAY application powered by Tappy’s Token Enablement Services (TES) solution. Second, using the companion Universal Passive Provisioning Unit (UPPU) that connects to ADIB PAY via Bluetooth, the digital card is automatically provisioned to the chip embedded within the payment clasp. Once provisioned, the customer is ready to make quick and easy payments with the tap of their wristwatch and will be able to instantly view their ADIB PAY transaction history in the application. Wayne Leung, CEO of Tappy Technologies, said, “As a certified technology partner of Visa, Tappy extends the power of network token service to safeguard customer-sensitive payment credentials on wearable devices. With the Tappy developed UPPU technology, consumers can digitise their payment cards within seconds and transform their traditional timepiece into a contactless payment accessory without ever needing to recharge it.” Salima Gutieva, vice president and country manager for UAE at Visa, commented, “Wearable tech is a fast-growing segment, especially as the young and digitally savvy generations increasingly demand a seamless cashless payment experience. “By combining Tappy’s technology with our highly secure tokenisation technology, ADIB can meet their customers’ need for security and convenience at a time when contactless payments are very important.” Visa has a close relationship with ADIB. The entities have signed an exclusive agreement in June to boost the adoption of digital payments among its clients in the UAE. Read: UAE’s ADIB, Visa partner to boost adoption of digital payments Tags ADIB contactless payments finance Technology wearable tech 0 Comments You might also like Insights: How UAE is enabling network transformation in the AI age UAE approves new AML, CFT national strategy for 2024-27 Private equity finds stability but momentum remains elusive, shows report ADX sees ETF trading net Dhs1.86bn from Jan to Aug