DUBAI — MOBIbucks will be showcasing its next-generation digital services platform targeted to Middle East-based banks and financial institutions at Cards & Payments Middle East 2013 — the region’s largest smart card, payments and ID event held here.
As part of its exhibit, MOBIbucks will demonstrate MOBI, the first all-digital bank account initiative, which is being deployed by Abu Dhabi Commercial Bank (ADCB) — one of the UAE’s leading banks.
The new digital account simplifies and speeds up the payment process, allowing bank customers with a MOBI account to conveniently pay by using only their phone number, the company press release said.
The demonstration will illustrate just how simple the payment solution is, providing bank customers convenient and affordable access to their money from any digital phone.
ADCB is the first bank to offer this new digital payment service, which targets everyday purchases made by consumers. ADCB has a network of 280 ATMs and over 50 branches in the UAE as well as 2 branches in India.
MOBIbucks enables banks to digitize cash into transactions to target the entire population. The MOBI digital platform, made up of banking, payments and commerce capabilities, is designed to embrace any mobile device, any operator and any network.
It extends the role of clients within the digital economy, opening up new revenue streams, enabling deeper engagement and ensuring competitiveness in the changing marketplace.
“UAE banks are investing heavily in developing their digital payments infrastructure so that they can be on par with global advancements. Financial institutions such as ADCB are looking for new and innovative technologies that will enable them to replace existing systems with a modern, flexible payments architecture to help differentiate their products and services and help grow their presence in the region,” said Ziad Alshobaki, MOBIbucks managing director, MENA and Far East.
“This new MOBIbucks payment service being offered by ADCB will change the way people pay for services.” — SG
