PayBy’s popularity has surged on account of its user friendly interface, safety and security features, and for simplifying payments; as well as the soaring demand for contactless payments. According to research from global market intelligence provider Statista, the value of contactless transactions is set to nearly double the digital payments business from $4.4 trillion in 2020 to $8.26 trillion in 2024.

A majority of the transactions on the PayBy app involve lifestyle services to meet daily needs; for example transactions such as mobile phone top up, peer to peer transfer, paying Abu Dhabi taxis fares, and it can also be used for grocery shopping.

PayBy also enables P2P (peer to peer) payments, making it easy to pay tradespeople, pay tips, or even split the bill in a restaurant. It can be used to send cash gifts without additional charges.PayBy can also be used for payments at some of the UAE’s largest retailers such as LuLu, Al Maya Supermarkets Al Maria Pharmacy, and Al Ain Pharmacy. Shoppers only need to show their payment QR codes on their phones to the cashier.

The PayBy wallet can be topped up using bank cards or cash, through 850 uPay and 4500 NT.Payments kiosks located throughout the UAE.

Innovative fintech enterprise PayBy was launched in the UAE in 2020 to support the region’s cashless economy by providing a variety of fintech solutions for businesses and consumers.

A great percentage of the UAE’s expat population is underbanked and unbanked,and needs digital and inclusive financial services. PayBy empowers them with a safe, secure app that only requires a KYC,which takes just a few minutes.Committed to build a contactless and cashless payment ecosystem, the PayBy App is available to download for all UAE residents now.