PayBy, the financial technology company, today launched rapid payment services via mobile phones in the UAE, in order to keep pace with the increasing demand for safe and contactless payment solutions in the face of the "Covid 19" epidemic.
In partnership with First Abu Dhabi Bank, PayBy provides a secure payment solution compared to the use of cash and payment cards, by allowing consumers to use their smartphones to pay for purchases in physical stores in a contactless manner. The new solution also allows users to pay for the orders sent to them upon receipt, order products and goods and services online, transfer and receive money instantly, and even send cash gifts to family and friends, via their smartphones.
PayBy, based in Abu Dhabi, provides POS solutions for all businesses in the UAE, from small sales outlets to large stores that provide services to thousands of customers daily. These savings solutions help local businesses quickly expand their customer base.
All financial transactions managed by PayBy are protected by effective technologies, including an artificial intelligence-based fraud management system, to monitor unauthorized activities according to PCI DSS data security standards.
PayBy services were launched in partnership with Lulu Hypermarkets, Lulu Express, grocery stores, and instant messaging applications such as Bottom and ToTok, and PayBy will be available for download directly on users ’smartphones as of April 2020.