NBAD launches m-payment service

NBAD Arrow service will allow users to make payments via SMS

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By  Mark Sutton Published  November 9, 2008

National Bank of Abu Dhabi (NBAD) has a launched an SMS mobile payment service for its customers in the UAE.

The NBAD Arrow service will allow users to transfer money to any other mobile user in the UAE, by sending an SMS. Funds are either automatically credited to an account if the recipient is also an NBAD customer, or can be withdrawn from NBAD ATMs using a code that is sent via SMS.

The service also allows users to pay utility bills and make donations to charities.

The payment system is based on technology from Norwegian mobile payment specialists Luup.

Ahmed Al-Naqbi, senior manager, Channels and Electronic Banking Services at NBAD said that the service builds on NBAD’s mobile payments offerings.

“As the UAE's number one bank, NBAD keeps up to speed with the latest banking technology to provide customers with a fast, secure, reliable and convenient banking experience,” said Al-Naqbi.

“The fact that we are the first bank in the region to roll out the Luup mobile payment system illustrates our progressive mentality in adopting global technologies and services to serve our customers even better. With a successful platform operating in Europe, Luup has the infrastructure, technology and business know-how that matched NBAD’s criteria and needs,” he added.

NBAD plans to extend the system to include payments for remittances, salary payouts, merchant payments and bill payments during the next eighteen months.

Thomas Bostrøm Jørgensen, Luup CEO, commented: “Luup is now building a global Mobile Payment Network by partnering with leading banks and financial institutions around the world, with initial focus on the GCC and South Asia. In NBAD we have found a partner who shares our core values such as customer-focus and innovation.”

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