Abu Dhabi Islamic Bank has become the first financial institution in the United Arab Emirates to launch mobile-payment services in collaboration with Etisalat, according to a spokesperson for the mobile operator.
Etisalat, the biggest mobile operator in the United Arab Emirates based on subscribers, has adopted unstructured supplementary service data technology for its mobile-banking platform. “Unlike in SMS banking, which relies on text messages, this technology will allow customers to make real-time transactions through their mobile phones and to conduct specific banking services offered by the bank,” the spokesperson says.
The service, which launched July 12, is available for free to all Etisalat prepaid and postpaid customers. Consumers may access the service using any mobile phone without having to do special software downloads or installations, according to the spokesperson.
Among the services customers may access include fund transfers between their accounts or with third party Abu Dhabi Islamic Bank accounts, monthly credit card payments, and utility-bill payments, he says.
Etisalat operates in 18 countries across Asia, the Middle East and Africa, covering over 100 million subscribers. Established in 1998, Abu Dhabi Islamic Bank Ltd. is an Islamic bank based in Abu Dhabi.
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