Abu Dhabi Islamic Bank (ADIB), one of the UAEs leading financial institutions, announced that it has entered into an exclusive deal with Visa to enhance the growth of the digital payments sector in the UAE, by offering ADIB cardholders a variety of innovative and customer-focused solutions.
Visa has exclusivity over the entire card portfolio of Abu Dhabi Islamic Bank, including a range of premium products like Signature, Infinite, and Infinite Privilege. Under the new agreement, ADIB will align all covered credit and debit card portfolios to the network.
ADIB and Visa have worked closely for almost two decades, providing businesses and individuals with covered and debit cards. To facilitate e-commerce transactions with Visa, ADIB was one of the first banks in the UAE to introduce biometric authentication solutions.
Innovative experience with Visa
The new agreement between the two entities seeks to enhance growth of the digital payment system in the UAE, by offering innovative products and unique experiences which are designed to deliver value to the bank’s diverse customer portfolio.
ADIB Group CFO, Mohamed Abdelbary, commented on the partnership, and said that the bank was excited about the partnership which had been signed in an effort to continue delivering unique, seamless services with a superior user experience for its customers. He said that the partnership between the two companies will enhance the delivery of solutions to customers, at the same time creating unique payment offerings that would be unmatched in scale and value. He further added that enhancing digital payment capabilities and secure payment systems would continue to be a focus of the partnership.
Risk and data solutions
The partnership will witness both entities engaging to drive growth of digital payments with data-led solutions, and will use innovative platforms to deliver innovative products in the UAE market. The partnership with Visa will leverage Visa’s sponsorship assets, and drive cost reduction and operational efficiency using risk and data solutions devised by Visa.
Senior VP and Group Country Manager for Visa in the GCC Region, Dr Saeeda Jaffar, said that ADIB was a long-term partner, and the company was delighted to sign an exclusive partnership agreement with the bank. Dr Jaffar said that through the years, the company has worked in close alliance with ADIB to deliver exclusive products and programs to deliver seamless, rewarding and secure payment experiences to all cardholders of ADIB. Dr. Jaffar said the Visa would continue to remain committed to enhance the growth of digital payments in the region, by bringing innovative products to the market and ensuring customer-centric solutions that would benefit cardholders in the UAE.