National Bank of Abu Dhabi (NBAD) and Luup International, a mobile payment provider, have announced that they plan to provide mobile money transfer services across the bank’s international network.
The new service will be an addition to the existing Arrow mobile payment service provided by NBAD, via Luup’s mobile payment platform. 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.
Ahmed Al-Naqbi, Senior Manager, Channels and Electronic Banking Services at NBAD, said: “Adding this service to Arrow will allow our customers to send money to each other, wherever they are, simply by using their mobile phone. Working with Luup to deliver mobile payments to our customers has added an exciting new dimension to our business; one that that we believe has huge further potential and we are already working on more products and services for our Arrow customers that we’ll announce as soon as they come online.”
Morten Hofstad, Head of business for Luup in the MENA region, said: “NBAD was quick to see the potential of mobile technology and by working with Luup is now is in a great position to capitalise on the benefits that mobile payments offer.”
Luup enables banks, corporate customers, exchange houses and institutions to offer mobile payment processing, mobile payment interfaces and virtual mobile phone accounts. It says that Luup will use its existing technology and expertise to develop this service for NBAD and they expect to announce further details later in the year.
