Innovative fintech start-up PayBy is brightening Eid Al Adha festivities with its digital eidiya. A traditional practice during Eid, eidiya is a small gift of money given to younger people, especially children. With PayBy’s cashless, contactless eidiya, money can be transferred instantly through the PayBy app or by way of the PayBy transfer messages on the chat apps, BOTIM and ToTok.
Using the PayBy app, with just a click of a button, the sender can send eidiya to loved ones to buy candy or sweets or simply save it. All that a PayBy user needs to do is enter the recipient’s mobile number on the PayBy app and transfer the eidiya. And the eidiya is instantly credited to the recipient’s wallet. Both the sender and the recipient should be registered PayBy users with updated Know Your Customer [KYC] details.
PayBy’s digital eidiya can also be transferred through the chat rooms of messaging apps, BOTIM and ToTok. For a bit of festive fun, senders can even set up a chat group and send eidiya gifts to all in the group. Through this method, all group members receive a random amount, and the one who gets the most is the lucky one.
PayBy has thus enabled a safe and convenient option for all – including those who are social distancing or unable to meet in person – to share the joy of Eid virtually with family and friends. To see the recipients’ delighted reactions to the eidiya, senders can even make a video call using BOTIM and ToTok.
Using PayBy for eidiya is not only the fastest option but also the smartest. With large gatherings curtailed to safeguard public health, digital eidiya is a safe, secure and hygienic way to ensure family traditions and connections are still continued. There are no charges for money transfers through the PayBy App.
Eidiya can be gifted instantly to anyone in the UAE using PayBy, even if they do not have a bank account. The electronic KYC process on PayBy is safe, contactless, and convenient and only requires the user have a PayBy account and get through the identity verification by uploading the Emirates ID. The AI detects and locates faces within an image, and compares it to live users with excellent accuracy. PayBy’s eKYC can be completed on any smartphone.
Money in the PayBy wallet can be used for retail purchases across the UAE’s leading supermarkets and retailers such as the Lulu Supermarket, Al Ain Coop and Al Maya Supermarket, in hotels and taxis, and for mobile top-ups and utility payments.
PayBy is already integrated into BOTIM and ToTok apps, and users of these platforms can access to PayBy services directly. The PayBy native App is currently available in Apple Store, Google Play and Huawei Store.
Source: BPG Group