Abu Dhabi Islamic Bank Launches Token Payment in Partnership with Visa and Tappy Technologies

Abu Dhabi Islamic Bank (ADIB), a leading financial institution, announced the launch of the region's first tokenised, contactless payment methods through the options of clasp and ring 'ADIB PAY', in partnership with token enablement service provider Tappy Technologies and global digital payments leader, Visa.

The new tokenised 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 of Retail Banking at ADIB, said: "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 tokenised, 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."

Wayne Leung, CEO of Tappy Technologies, said: "We are proud to partner with ADIB to redefine the consumer wearable payment experience that is convenient, effortless and hyper secured adhering to the highest contactless standards in the world. 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 digitise their payment cards within seconds and transform their traditional timepiece into a contactless payment accessory without ever needing to recharge it."

Salima Gutieva, Vice President & Country Manager for UAE at Visa, commented: "By combining Tappy's technology with our highly secure tokenization technology, ADIB can meet their customers' need for security and convenience at a time when contactless payments are very important. The launch of the first tokenized contactless payment clasp is a great example of how we can drive digital transformation by offering unique products that truly transform the customer experience."