PayBy Financial Technology launched fast and safe mobile payment services in the UAE, in partnership with First Abu Dhabi Bank.
According to the Emirates News Agency, the move comes to keep pace with the growing demand of consumers and companies for convenient, secure and contactless payment solutions as the world struggles with the Covid epidemic - 19
PayBy will provide an efficient and secure payment solution that outperforms cash solutions and payment cards, by allowing consumers to use their smartphones to pay for purchases in actual stores in a non-contact manner and without the need to deal in cash .. The new solution also allows users to pay the value of orders sent to them upon receipt, and request Products, goods, and services online, transfer and receive money instantly, and even send cash gifts to family and friends, all on their smartphones.
PayBy, which is headquartered in Abu Dhabi, provides point of sale solutions for all businesses in the UAE, from small sales outlets to large stores that provide services to thousands of customers daily, and these savings solutions help local companies to expand their customer base quickly.
All financial transactions managed by PayBy are protected by leading and effective technologies, including an artificial intelligence-based fraud management system, to monitor unauthorized activities according to data security standards in the payment card industry / PCI DSS /.
PayBy services were launched in partnership with Lulu Hypermarkets, Lulu Express, grocery stores and a number of leading instant messaging applications such as Bottom, this technology will be available through these partners, and PayBy will be available for download directly on users ’smartphones as of April 2020.
