FAB and Mastercard Team Up to Introduce SlicePay: The Buy Now, Pay Later Solution in the UAE
In a significant move within the financial landscape of the UAE, First Abu Dhabi Bank (FAB) has partnered with Mastercard to unveil SlicePay, a pioneering buy now, pay later (BNPL) solution under its Dubai First trademark. This collaboration marks the debut of the Mastercard Installments Program in the Eastern Europe, Middle East, and Africa (EEMEA) region.
SlicePay offers customers the opportunity to effortlessly convert their purchases into four interest-free installments, ensuring a secure and convenient experience with a streamlined user interface. This revolutionary program aims to enhance the payment landscape, providing a flexible and accessible option for shoppers.
J.K. Khalil, Cluster General Manager, MENA East, Mastercard, emphasized the commitment to delivering innovative payment solutions that drive digital transformation and inclusivity. The Mastercard Installments Program offers vast acceptance and reach, empowering lenders and merchants to provide secure buy now, pay later experiences at scale. The program’s debut in the region is intended to facilitate access to essential products and services for both individuals and businesses.
For FAB customers, the partnership promises instant approval and issuance of a digital-only SlicePay card, usable across the UAE wherever Mastercard is accepted — whether in-store or online. This offering comes with the assurance of Mastercard’s consumer protections, safeguarding purchases and enhancing peace of mind.
SlicePay, operating under the Mastercard Installments Program, is tailored to meet the unique requirements of lenders, issuers, merchants, and consumers. It simplifies the installment financing experience by dividing purchases into four equal payments, free from any consumer fees or interest charges.
Rudy Sudarsono, SVP and Head of Cards at FAB, highlighted the innovative nature of SlicePay, providing digitally savvy customers with an advanced approach to managing payments. The platform’s launch aligns with the changing needs of UAE consumers and merchants, delivering an added layer of convenience and assurance to the payment landscape.
The collaboration between FAB and Mastercard signals a significant leap in providing a modern, consumer-centric payment solution that is poised to resonate strongly with the evolving financial needs of both individual users and businesses across the UAE.
