Ajman’s Department of Finance (DoF) signed a cooperation agreement with First Abu Dhabi Bank (FAB) and Magnati to support the launch of new payment channels and services through the AjmanPay application.
This agreement is in line with Ajman government’s strategy of fostering strategic partnerships between the public and private sectors, a statement by DoF said.
The agreement also complies with DoF’s efforts to develop innovative financial services that offer customers the facility to save their financial data.
It includes managing their financial transactions in a unified and tailor-made platform linked to their bank accounts.
Ramana Kumar, Chief Executive Officer of Magnati, said, “Our partnership with Ajman’s Department of Finance on Ajman Pay will accelerate the emirate’s shift toward a cashless economy.”