Abu Dhabi, 20 April 2020: First Abu Dhabi Bank (FAB), the UAE’s largest bank and one of the world’s largest and safest financial institutions, has partnered with Etisalat Digital to launch a digital invoicing solution that caters to the SME merchant base in a fully contactless manner.
The digital invoicing solution allows SME merchants such as grocery stores, restaurants and other SMEs restricted by the COVID-19 pandemic to accept card payments in a safe and secure manner. With business activities restricted to delivery-only, the solution will safely and securely share a digital invoice to customers via SMS, email or even WhatsApp to receive payments before the delivery is initiated. Abiding by the guidelines issued by the UAE authorities, it means interactions with customers are minimised as there is no requirement for “cash on delivery”, with payment accepted well in advance of the delivery being initiated. There is no need for technical integration or a website.
To further support SMEs and provide them with relief during these challenging times, FAB will be waiving the setup fees for all merchants signing up for this solution until June 2020. In addition, FAB will also be charging zero monthly fees in order to support SME merchants.
Ramana Kumar, SVP and Head of Payments at First Abu Dhabi Bank said, “The digital invoicing solution will give reassurance to SME merchants and their customers during this uncertain period for business. FAB understands the difficulties that SME merchants are facing in today’s challenging business environment and the digital invoicing solution caters to their requirements of accepting online payments in a fast, simple and secure manner. As one of the largest payments service providers in the region, FAB continues to invest in the right solutions which allow our merchant clients to adapt and accept payments in a dynamic and changing market environment.”
Etisalat Digital’s partnership with FAB in this initiative is at a time when it has never been more important for businesses and customers to utilise digital payment solutions. This will give SME merchants and their customers peace of mind as Etisalat continues to support businesses in the current circumstances. Etisalat Digital Payment Gateway offers quick, hassle free and fully secure online payment functions for all types of businesses.
FAB has also recently implemented a series of financial relief measures to support customers during this challenging time, as well as technologies such as instant cross-border payment solutions.