FAB, Etisalat Digital launch fully contactless digital invoicing solution for SME merchants
20 Apr 2020
First Abu Dhabi Bank, FAB, has partnered with Etisalat Digital to launch a digital invoicing solution that caters to the SME merchant base in a fully contactless manner.
The digital invoicing solution allows SME merchants such as grocery stores, restaurants and other SMEs restricted by the COVID-19 pandemic to accept card payments in a safe and secure manner, FAB said on Monday.
With business activities restricted to delivery-only, the solution will safely and securely share a digital invoice to customers via SMS, email or WhatsApp to receive payments before the delivery is initiated.
Abiding by the guidelines issued by the UAE authorities, it means interactions with customers are minimised as there is no requirement for "cash on delivery", with payment accepted well in advance of the delivery being initiated. There is no need for technical integration or a website.
To further support SMEs and provide them with relief during these challenging times, FAB will be waiving the setup fees for all merchants signing up for this solution until June 2020. In addition, FAB will also be charging zero monthly fees in order to support SME merchants.
Ramana Kumar, Senior Vice President and Head of Payments at First Abu Dhabi Bank, said, "The digital invoicing solution will give reassurance to SME merchants and their customers during this uncertain period for business. FAB understands the difficulties that SME merchants are facing in today’s challenging business environment and the digital invoicing solution caters to their requirements of accepting online payments in a fast, simple and secure manner."
"As one of the largest payments service providers in the region, FAB continues to invest in the right solutions which allow our merchant clients to adapt and accept payments in a dynamic and changing market environment," he added.