FAB partners with Alipay to help UAE merchants unlock more business opportunities
The partnership helps merchants connect with the growing number of Chinese residents and visitors
Abu Dhabi, 30 January 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 Alipay to better connect UAE merchants with growing number of Chinese residents and tourists via the acceptance of China’s largest online and mobile payments provider.
During the Chinese New Year promotion, customers making payments using Alipay at FAB merchants stand a chance to win gift packs and other monetary prizes through a lucky draw.
FAB provides payment processing services to over 27,000 merchants across the UAE. This partnership will enable Alipay’s 900 million China users to pay at an expanded range of retailers in the UAE with a seamless payment experience.
This partnership benefits the large numbers of Chinese population currently residing in the UAE and the increasing number of Chinese tourists who visit the UAE every year. More than 200,000 Chinese people reside in the UAE, and the Department of Culture and Tourism – Abu Dhabi expects 600,000 Chinese tourists to visit the emirate by 2021.
Ramana Kumar, SVP and Head of Payments at First Abu Dhabi Bank said, “We are delighted to partner with Alipay to increase the number of merchants in the UAE who can accept China’s largest payments provider. The UAE is an increasingly popular destination for Chinese tourists, and Alipay acceptance is an added attraction for merchants looking to serve them. FAB continues to invest in the right partnerships to provide strategic payment platforms to merchants and this partnership enables us to simultaneously support our customers’ needs while contributing to the UAE’s goal of becoming a cashless economy.”
Venetia Lee, General Manager of Alipay Middle East commented, “With the partnership, we look forward to connecting UAE merchants to more Chinese consumers via the acceptance of Alipay. This not only brings merchants incremental business opportunities, but also provides a cost-effective channel to conduct targeted marketing campaigns via the Alipay platform.”