First Abu Dhabi Bank (FAB), in collaboration with global technology leaders Mastercard, Tappy Technologies, and Thales, has officially launched the Fitness Payment Ring in the United Arab Emirates. The innovative wearable device seamlessly integrates daily fitness tracking with secure, contactless payment capabilities.
The new ring allows users to link their FAB Mastercard debit and credit cards, enabling simple and secure tap-to-pay transactions at contactless terminals across the country and globally.
Blending Fitness and Finance
The Fitness Payment Ring represents a significant step in the convergence of fintech and personal wellness. Beyond its payment functionality, the device tracks various fitness metrics. An accompanying mobile application provides users with personalized insights and health recommendations based on their activity data, creating a holistic user experience.
The ring is now available through FAB’s online and retail channels and comes in a variety of sizes and colours to suit different user preferences.
The Technology Powering the Ring
This launch is the result of a strategic partnership leveraging the unique strengths of each company. FAB provides the core banking infrastructure, while Tappy Technologies contributes its specialised expertise in wearable payment technology.
At the heart of the device is a miniaturised secure chip provided by Thales. This chip supports network tokenisation, a critical security feature that replaces sensitive card information with unique digital tokens. This process ensures that the user’s actual card details are never exposed during transactions, significantly enhancing security.
A Milestone in Wearable Payments
The introduction of the payment ring is being hailed as a landmark moment for the future of wearable technology in the financial sector.
Suboor Ahmed, Co-Founder and COO of Tappy Technologies, commented on the launch, stating, “This launch with FAB, promoted by a global superstar, represents a defining moment in wearable payments. We are proud to collaborate on this pioneering fitness and payment ring, marking a world first milestone for a leading bank.”
Supporting a Digital UAE
The initiative also aligns with the UAE’s broader strategic goals for digital transformation and building a secure, knowledge-based economy.
“At Thales, our role is to build a future we can all trust, and we are happy to be supporting the country’s ambitions for a secure, digital, and knowledge-driven economy with this partnership,” said Abdelhafid Mordi, CEO of Thales UAE.
About First Abu Dhabi Bank (FAB)
First Abu Dhabi Bank is the UAE’s largest bank and one of the world’s largest and safest financial institutions. Headquartered in Abu Dhabi, FAB’s network spans five continents, providing global relationships, expertise, and financial strength to support local, regional, and international businesses seeking to do business at home and abroad.
Source: Fintech News Middle East
