Visa joins hands with YellowPepper & ABHI to boost A2A payments in the UAE
By Delisha Fernandes
Visa has announced a partnership agreement with ABHI, a FinTech company, and YellowPepper to introduce Account-to-Account (A2A) payments in the UAE.
By leveraging Visa Direct’s technology, ABHI will enable individuals and businesses in the UAE to experience seamless, real-time, and secure payments. This innovative solution will empower consumers to transfer funds directly between bank accounts, eliminating the need for intermediaries and streamlining financial transactions.
“As we embark on this journey with Visa, we at ABHI are not just making a technological leap, but a leap towards greater financial inclusion and a sustainable digital economy. By harnessing Visa Direct’s technology, we are democratizing financial services, making transactions seamless, real-time, and secure for everyone in the UAE. This is not just an upgrade in the digital payments ecosystem, it’s a step towards financial empowerment for all.” said Omair Ansari, Co-Founder and CEO of ABHI.
YellowPepper, a Visa aolution, helps institutions around the world connect to international and domestic real-time payment solutions through its Yepex platform, which enables multiple use cases and services such as P2P, cross-Border and Alias Directory, among others. It will also support domestic payouts in the UAE by enabling Visa Direct. With this integration, YellowPepper’s technology will allow ABHI customers to move money to Visa cards.
“We are delighted about our strategic collaboration with ABHI and Visa, aimed at expediting the implementation of digital payments solutions in the region,” said Nat Scheer, Regional Head AP & CEMEA at YellowPepper “Through this partnership, we are dedicated to providing a seamless and robust digital experience that prioritises security, speed and above all, convenience, to consumers in the UAE.”
ABHI is set to unveil an upcoming initiative called “Send Now Pay Later“. This innovative service will empower individuals to seamlessly send money across borders using their earned wages, creating new possibilities for financial empowerment and cross-border connectivity.
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December 08, 2023