Abu Dhabi, 23 June 2022: Abu Dhabi Islamic Bank (ADIB), a leading financial institution, announced today that it has signed an exclusive agreement with world leader in digital payments, Visa. This agreement aims to further grow digital payments in the UAE, offering innovative and customer- centric solutions to ADIB cardholders.
As part of the partnership agreement, ADIB will begin aligning all of its covered card and debit card portfolios to the Visa network, where Visa has secured exclusivity over ADIB's entire card portfolio including premium products such as Visa Infinite Privilege, Visa Infinite and Visa Signature.
For nearly 20 years, ADIB and Visa have worked together to provide covered and debit cards to consumers and businesses of all sizes. ADIB was one of the first banks to introduce the UAE's first biometric authentication solution for e-commerce transactions with Visa. This agreement aims to grow digital payments in the UAE offering innovative experiences and products that deliver value to the bank's diverse customer segments.
Speaking on the partnership, Mohamed Abdelbary , ADIB Group CFO said: “We are excited to build on our partnership with Visa as we continue to deliver seamless services and superior user experience to our customers. Deepening our partnership with Visa will speed the delivery of solutions for our individual and business banking customers and will enable us to create payment offerings that are unmatched in value and scale, enhancing our customers' lives. Enhancing our digital capabilities and secure payment is an increasing area of focus for us as we are constantly working towards developing advanced solutions that enable our customers to make payments digitally, in a safe and secure manner."
The renewed partnership will see both entities continuing to work together to drive the growth of digital payments through data-led solutions, deliver differentiated products in the market using innovative platforms, deepen customer engagement with experiential offerings through Visa's sponsorship assets, and drive operational efficiencies and cost reduction through Visa's risk and data solutions.
Dr. Saeeda Jaffar, Senior Vice President and Group Country Manager for GCC region, Visa, said: ADIB has been a longstanding partner for Visa and we are delighted to sign this exclusive partnership agreement. Over the years, we have worked together with ADIB to develop exclusive products and programs that deliver seamless, secure, and rewarding payment experiences to ADIB cardholders. As we renew our partnership, we remain committed to growing digital payments, bringing more innovative products to market, and delivering customer-centric solutions to benefit cardholders."