First Abu Dhabi Bank, Magnati, PayRow Net to develop digital payment platform

First Abu Dhabi Bank (FAB) with the support of its affiliate, Magnati, is collaborating with PayRow Net through the Ports Customs and Free Zone Corporation (PCFC) to establish a best-in-class digital payment platform to boost Dubai’s move towards a cashless economy.

Government entities and merchants will now be able to receive payments from their customers in an easy, flexible, unified, and secure manner.

The streamlining and automating of revenue collection will also help government entities to better plan and forecast as well as focus on their core business and services.

To improve the delivery of services, the platform enables users to make payments for government services through a variety of digital methods, including point-of-sale transactions, card payments and digital wallets. Additionally, FAB in collaboration with PayRow will issue co-branded prepaid cards to promote seamless and secure payments.

Mustafa Al Khalfawi, head of Global Banking UAE and global head of Government, Sovereigns, and Public Sector at FAB, said, “We’re delighted to partner with PCFC to offer a seamless solution and establish a best-in-class digital payment platform. FAB’s holistic commitment to technology ensures we keep pace with innovation thereby empowering our partners to grow their digital capabilities.”

Ramana Kumar, CEO of Magnati, said, “Magnati is excited to support FAB in its collaboration with PCFC and PayRow Net to usher in the next era of digital payments infrastructure. This collaboration combines FAB’s technological expertise and Magnati’s payment know-how to transform PCFC’ payment platform and in turn, support Dubai’s transition to a cashless economy.”

The new payment platform is a continuation of the efforts in Dubai to advance the payments landscape across areas that cover civic and government domains such as utilities, transport, logistics, social services, healthcare, and public convenience.

Ghanim Bin Wogayeh, CEO of PayRow Net, said, “We are delighted to be collaborating with FAB with the support of its affiliate, Magnati, to expand our payments services by providing an enhanced solution that improves the customer journey. This partnership showcases our commitment to deliver best-in-class digital payment solutions in line with Dubai’s shift to a cashless economy.”

PayRow Net Payment Services and Technologies Solutions is a subsidiary of the Ports Customs and Free Zone Corporation (PCFC) and, by engaging with third-party payments services providers, is facilitating access to a wide range of online payment methods such as online banking, credit cards, debit cards, e-wallets, cash invoices, and more. These methods not only improve customer experience but also ensure customer transactions are made safely and securely.