First Abu Dhabi Bank partners Aldar for card-based payment to property tenants

This follows a deal struck with Aldar's real estate management arm Provis

Dubai: First Abu Dhabi Bank (FAB) is partnering Aldar Properties’ real estate management firm Provis to provide consumer card payments for customers. Provis will thus provide cards payment acceptance services to all rental customers within Aldar-owned properties.

"The extension of our digital payments offering into the real estate sector comes at a pivotal time," said Hana Al Rostamani, Deputy Group CEO and Head of Personal Banking at FAB. "Consumers are increasingly shifting to electronic payments for all manner of purchases and the effects of COVID-19 has accelerated that trend.”

Provis currently manages around 13,500 units and has an additional 30 projects for which FAB will be able to provide payment services to Aldar for collecting rental payments. FAB is facilitating the move by extending payment processing through point of sale, ecommerce and, in time, pay by a link.

Property-related payments in the UAE are traditionally done via cash or cheque. FAB is facilitating the move by extending payment processing through point of sale, ecommerce and, in time, pay by a link.

In a statement, Ramana Kumar, Senior Vice-President and Head of Payments and Digital Banking, PBG at the Abu Dhabi bank, said: “The plan is to add extra convenience through the digitisation of payment acceptance and help reduce cash usage where necessary.”