Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) has joined forces with Visa to secure the new Visa Installments Solution (VIS) for its cardholders across the UAE.
The option will enable customers to divide their spending into smaller, equal payments at selected merchant checkouts, both online and in-store, according to a press release.
Furthermore, the partnership will allow the bank’s clients to effectively manage their budgets and afford larger purchases effortlessly.
ADIB and Visa will team up to provide consumers with enhanced financial convenience and prudential lending as well as flexibility through the advanced installment solution.
The new feature will offer flexible payment solutions, which will strengthen merchant relationships.
Amit Malhotra, Global Head of Retail Banking at ADIB, commented: "Through Visa Installments, covered cardholders can now enjoy a smooth and hassle-free payment experience while making the most of their money."
Salima Gutieva, VP and Country Manager for the UAE, underlined: "The demand for installment payment solutions has been rapidly growing in the UAE, especially for large ticket purchases like home appliances, electronics, jewelry, and education-related expenses.”
“We believe that this innovative offering will address the evolving needs of consumers while at the same time driving digital transformation in the market,” Gutieva added.
In the first nine months (9M) of 2023, ADIB posted 53% higher net profits at AED 3.75 billion, compared to AED 2.45 billion in 9M-22.
