FAB Launches Payit Universal Account to Support Financial Inclusion in the UAE
First Abu Dhabi Bank (FAB) has introduced the Payit Universal Account, a digital banking product designed to support financial inclusion in the UAE and help employers move away from legacy salary card models.
The new multi-service mobile account is aimed at individuals earning up to AED 5,000 and is aligned with the Central Bank of the UAE’s financial inclusion objectives under its Universal Accounts framework. FAB said the account offers a fully digital onboarding process and does not require a minimum balance.
IBAN-Enabled Account with Everyday Banking Features
The Payit Universal Account is structured as an IBAN-enabled digital account, giving users access to a range of banking services. These include local and international money transfers, bill payments, merchant transactions, and cash withdrawals or deposits through FAB ATMs.
According to FAB, employees who choose to receive their salary through the Payit app can also access lending facilities, rewards, and additional everyday banking features. The bank said the product is intended to bridge the gap between basic financial access and full banking participation.
Designed for Salary Disbursement and Payroll Simplicity
For employers, the account is positioned as a compliant alternative for salary payments. FAB said the solution supports a fully CBUAE-compliant, WPS-aligned framework, allowing companies to deposit salaries directly into the digital account.
The bank added that this approach can reduce operational risk, administrative overheads, and payroll complexity associated with physical salary cards. By digitising salary disbursement, FAB aims to simplify processes for businesses while expanding access to formal financial services for workers.
Accessible Across Multiple Languages
To serve a diverse customer base, the Payit app supports English, Arabic, Hindi, and Urdu. FAB said this language coverage is intended to improve accessibility for more users across the UAE workforce.
The launch reflects continued momentum in the UAE’s digital banking and financial inclusion agenda, particularly for salaried workers who may benefit from easier access to regulated accounts and broader financial services.
Industry Analysis
The introduction of the Payit Universal Account highlights the growing role of digital banking products in expanding financial access in the UAE. By targeting lower-income earners and linking salary disbursement to a regulated account structure, FAB is addressing both customer inclusion and employer efficiency in one solution.
From an industry perspective, the product may encourage wider adoption of account-based salary payments, especially among businesses seeking more streamlined payroll processes. It also reinforces the importance of multilingual, mobile-first banking tools in reaching underserved segments of the labour market. As more banks and fintech providers focus on inclusive digital products, competition in the UAE’s retail banking and payroll ecosystem is likely to intensify.
