As the world is combating the COVID-19 pandemic, clients and businesses are more and more looking for payment solutions that are easy, contactless, and safe. PayBy, a creative fintech company, has officially released its rapid and secure mobile payment services in the UAE on March 30th.
In partnership with the global-leading financial institution FAB, PayBy provides a highly efficient and safe payment solution that is superior to cash and payment cards. With PayBy, customers can use their smartphones to make contactless and cashless payments in physical stores. The new payment solution will also allow its users to pay for deliveries on arrival, order goods and services online, transfer and receive money immediately, and even share cash gifts with family and friends, all via smartphone.
PayBy also offers point of sale (POS) solutions for each kind of business in the UAE, from small merchants to large stores that serve thousands of customers daily. These affordable solutions will help local businesses and support them to reach a broad consumer base immediately.
All financial transactions on PayBy are well secured by leading and proven technologies, which includes an AI-based fraud management system to find out unauthorized activities, in strict accordance to PCI-DSS standards.
PayBy's launch partners together, the Lulu Hypermarket and Express, Baqalas (grocery stores), and such familiar instant messaging platforms as Botim and ToTok. PayBy services will be made available by all these partners, and consumers will also be able to download the PayBy app directly onto their smartphones in April 2020.