Ajman’s Department of Finance and Transport Authority partner with FAB and Magnati to offer digital payments in taxis
By Leandra Monteiro
As part of their efforts to support digital transformation initiatives in the emirate, Ajman’s Department of Finance and Transport Authority have signed an agreement with First Abu Dhabi Bank (FAB) and Magnati, a fully owned subsidiary of FAB, in order to provide a variety of payment options for taxi fares.
The agreement, which was signed by His Excellency Marwan Ahmed Al Ali, Director General of Ajman’s Department of Finance, His Excellency Omar Mohammed Lootah, Director General of Ajman Transport Authority and Ramana Kumar, CEO of Magnati, comes in line with the vision of Ajman’s government to boost digital economy while exceeding public’s expectations of satisfactory services, thereby increasing customers’ happiness. This new feature offers convenience and security and targets improving the efficiency of services provided to passengers and minimising the risks of exposing passengers to COVID19.
This year, passengers will be able to pay taxi fares using credit cards, Samsung Pay, Apple Pay, as well as the e-wallet of Ajman Pay, the smart digital payment gateway for the Government of Ajman.
Commenting on this, Al Ali said, “Signing this agreement comes in line with Ajman Department of Finance’s strategy to be an active part of achieving the vision of our wise leadership when it comes to digital transformation. This partnership is a great example of our continuous efforts to undertake various initiatives that would provide multiple payment options to the public, thereby ensuring customers’ happiness.”
For his part, Lootah stated, “We are pleased to have entered into this cooperation, which couldn’t have come at a more opportune time given the challenges posed by COVID – 19. We always seek for the highest standards of quality in providing our services. We always strive to adopt the latest technologies that develop the infrastructure of the transport sector, and we are keen to employ the best solutions to mount a speedy recovery from the pandemic by relying extensively on digital transformation, in line with Ajman’s strategy aimed at improving the government work and providing high-quality services.”
Meanwhile, Kumar added, “We are honored to collaborate with Ajman’s Department of Finance and Transport Authority to provide innovative payment solutions for taxi fares, in line with Ajman’s vision towards boosting digital economy. We are confident that using the solutions of Magnati will provide a secure, seamless payment experience. Our goal is to showcase how digital payments can benefit various customer segments including consumers, companies and government agencies.”
Imad Abdalwahab, Managing Director & Head of Government Payment Solutions at Magnati, “We have always been keen on investing in innovative solutions that would provide convenience and smooth payment experience to the consumers. We are honored to support Ajman’s strategy towards digital transformation through this collaboration that facilitates payments for taxi fares and sheds light on Magniti’s efforts to offer diversified and smart payment solutions.”
IBSi Prime News
January 21, 2022
The Weekly Wrap: all you need to know by Friday COB | Jan 21stRead More
- Daily insightful news analysis
- Weekly snapshots of industry deals, events & insights
- Sectoral deep dives on the hottest FinTech trends
- Exclusive interviews featuring c-level executives who are shaping the industry
- Profiles of the most influential established and emerging companies in the sector
- Weekly global FinTech use cases
- Chart of the Week curated by IBSi’s Research Team
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage