FAB in­tro­duces sound-based pay­ment sys­tem

Banking Frontiers - - Banking In The Gulf -

First Abu Dhabi Bank has in­tro­duced a new sound-based pay­ment sys­tem us­ing its dig­i­tal wal­let. The sys­tem, de­scribed as a first of its kind in the Gulf, al­lows cus­tomers to make pay­ments us­ing the banks Payit dig­i­tal wal­let app on their smart­phone by lis­ten­ing to a sound and click­ing pay. It uses sound waves to en­able con­tact­less pay­ment and com­mu­ni­ca­tion be­tween de­vices ‘in­de­pen­dent of hard­ware’. This sys­tem can be used with elec­tronic cash reg­is­ters, POS ma­chines and de­vices and mer­chant mo­bile phones for pay­ments in real time. The bank’s head of pay­ments Ra­mana Ku­mar said af­ter suc­cess­fully rolling out the UAE’s first QR-based pay­ment sys­tem in March, the bank fo­cused on launch­ing a game-chang­ing UAE-wide so­lu­tion that is built around com­mu­ni­ca­tion be­tween smart de­vices.

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