Abu Dhabi Commercial Bank enables contactless payments with virtual POS terminal

Abu Dhabi Commercial Bank (ADCB) is launching a virtual point of sale (POS) payment terminal, the third digital payment offering to be announced in the UAE in a week.

ADCB PACE PAY, powered by Visa, facilitates card payments through the merchant’s smartphone, crucial for cash-driven businesses to continue doing business in light of social distancing measures.

The app is compatible with all smartphones and tablets, eliminating the need to invest in a separate physical device, the bank says.

In addition to scanning a credit or debit card in-store, ADCB PACE PAY allows remote payments for home deliveries by generating payment links that can be shared via social media such as WhatsApp, Facebook Messenger, SMS and email.

The solution is pre-integrated into a payment gateway, making it easier for smaller merchants to transition to eCommerce without an elaborate integration process. They simply need to login to start using ADCB PACE PAY, according to the bank.

“ADCB is delighted to partner with Visa to launch ADCB Pace Pay, an innovative app specially designed to equip small businesses across the UAE with digital payment infrastructure at zero cost per transaction,” said Arup Mukhopadhyay, head of Consumer Banking, ADCB.

“The current need for social distancing and minimum contact has accelerated the UAE’s journey to a cashless economy. However, the micro and SME community has faced several challenges as 50 per cent of all payments in the UAE are still in cash,” Mukhopadhyay added.

Read: Commercial Bank of Kuwait taps Thales for contactless payment technology

Digitising payment systems has become imperative in the Covid-19 era.

Earlier this week, online delivery platform Delivery Hero announced it has picked Mastercard to digitise its payment system across all its brands in the MENA region.

Consumers who order food online through Delivery Hero’s apps will be able to pay on delivery with a contactless solution. Customers can also choose to pay through a digital wallet for their food orders.

Commercial Bank of Kuwait (CBK) has also announced a deal Thales to digitise its credit and debit cards, allowing for contactless payments through the CBK mobile app.

CBK customers can download the mobile banking app – available on Android devices for now – and register their payment cards. The digital versions of their card can be used as to make purchases in retail outlets.

Read: Delivery Hero picks Mastercard to digitise payments across MENA