ADCB goes mobile

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Abu Dhabi Commercial Bank (ADCB) has launched a payment system that allows customers to use their mobile to make payments. The payment system, named Mobi, is different from the usual Visapay Wave or BarclayCards Quick Tap. The client need not carry any cash or card or even the mobile phone to make any payment. Instead they have a unique mobile phone number to make the payment. The bank aims to provide service to all small purchases of the customer and thereby provide a better service.

Thepayment system issues avirtual card number similar to themobile number and is linked to an account that can be refilled at a merchants terminal with cash or plastic. This system allows the customer to makepayments up to Dh300 (US$81.67) at a time, and the maximum limitisDh1,000 in an account linked to the mobile number. The customer is required to entera six-digit pin numberbefore making any purchase. The digit is then verified using text messaging.

The bank is not charging any fees from itscustomers,but passing the cost ofsuch transaction on to merchants. Presently, the service is limited to selected customers, while the bank is aiming to expand this service to its entire customers. The general trend in UAE is to make payments using cash. However, the bank is hopeful of seeking its customers to use this service. The challenge with the bank at the moment is to convince retailers to sign up for such service.

ADCB isat present intalks with merchants to supply Mobi-enabled handsetsthroughout the UAE. Coffee Planet is the first retailer to sign up.

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