NBAD to provide a MMT service

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The National Bank of Abu Dhabi (NBAD) and Luup plan to provide a mobile money transfer service across the bank’s international network. NBAD enjoys the largest overseas network of all UAE banks, with 42 overseas units located in 9 countries on four continents.

The new service will be a valuable addition to the already popular Arrow mobile payment service provided by NBAD, via Luup’s mobile payment platform (MPW 123). Arrow, the SMS based payment service, allows customers to access their bank accounts via mobile phones to pay, send, and receive money around the clock.

The planned service will offer customers a fast, secure and reliable means of sending money internationally regardless of their mobile phone or network. Initially, the service will be available to NBAD customers but it is planned that it will be offered to a wider audience. Luup enables banks, corporate customers, exchange houses and institutions to offer mobile payment processing, mobile payment interfaces and virtual mobile phone accounts. Luup will use its existing technology and expertise to develop this service for NBAD.

‘Our Arrow service has already proved to be a great success with customers, who have embraced the speed and convenience of mobile payments. Adding this service to Arrow will allow our customers to send money to each other, wherever they are, simply by using their mobile phone,’ comments Ahmed Al-Naqbi, senior manager, channels and electronic banking services, NBAD.