Abu Dhabi Islamic Bank (ADIB) said the ‘Visa Instalments Solution’ is now available for ADIB-covered cardholders in the UAE.
NEOPAY, the payments unit of Mashreq, is the first acquirer to enable Visa Instalments Solution at local merchants in the UAE.
Under the agreement, ADIB Visa-covered cardholders can now opt for Visa Instalments Solution to pay back, the utilized amount from their covered cards for their spending, into smaller, equal payments at checkout in-store to effectively manage their budgets and afford larger purchases effortlessly.
“The launch of Visa Instalments Solution for ADIB cardholders marks a significant milestone in our commitment to enhancing financial convenience for our customers. Through our collaboration with Visa, ADIB cardholders can now enjoy the flexibility of paying back, the utilized amount from their covered cards for their purchases, into smaller, manageable easy instalment payments at select retail stores, empowering them to make larger purchases effortlessly while staying within their budgets,” said Amit Malhotra, Global Head of Retail Banking at ADIB.
The partnership comes at a time when consumers are increasingly seeking out easy instalment payment options that align with their financial needs and preferences. With these data-driven insights, ADIB and Visa are committed to empowering consumers with enhanced financial convenience and prudential financial services.
Visa Instalments Solution is a real-time API-based platform that unites key stakeholders in the payment ecosystem, including issuing banks, payment processors, merchants, and payment facilitators.
Visa said last October that it is working with local issuers and acquirers in the UAE.
