Abu Dhabi Islamic Bank (ADIB), a leading financial institution, has launched the region’s first tokenized, contactless payment methods through the options of clasp and ring ‘ADIB PAY’, in partnership with the token enablement service provider, Tappy Technologies and global digital payments leader, Visa.
ADIB Visa cardholders can now make contactless payments using their favorite watch, ring, or bracelet, without the need to carry a physical plastic card.
According to the statement, the new tokenized contactless payment clasp from ADIB can be attached to a multitude of wrist wearables, instantly turning that wearable, ring, or watch into a smart payment device. ADIB PAY will be initially offered to select customers.
Samih Awadhalla Acting Global Head Retail Banking Group ADIB
“ADIB continues to roll out innovative digital payment services as we further develop our digital capabilities. We are proud to launch the region’s first tokenized, contactless payment clasp with our partners Tappy Technologies and Visa. ADIB PAY demonstrates our commitment to offering simplicity and convenience to our customers. This is a significant milestone for the bank, and we won’t stop there. Customers can expect more solutions that will help them bank with ease and simplicity.”
The setup process for ADIB PAY is simple and quick. According to the statement, “First, the customer’s ADIB Visa card is tokenized via the supporting ADIB PAY application powered by Tappy’s Token Enablement Services (TES) solution. Second, using the companion Universal Passive Provisioning Unit (UPPU) that connects to ADIB PAY via Bluetooth, the digital card is automatically provisioned to the chip embedded within the payment clasp.”
Once provisioning is complete, the customer is ready to make quick and easy payments with the tap of their wristwatch and will be able to instantly view their ADIB PAY transaction history in the application.
Mr. Wayne Leung, CEO of Tappy Technologies, said that, “As a certified technology partner of Visa, Tappy extends the power of network token service to safeguard customer-sensitive payment credentials on wearable devices. With the Tappy developed UPPU technology, consumers can digitize their payment cards within seconds and transform their traditional timepiece into a contactless payment accessory without ever needing to recharge it.”
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