Global collaboration between ADIB and Visa results in the introduction of a real-time international money transfer service
Abu Dhabi Islamic Bank (ADIB) has taken a significant step forward in digital innovation, partnering with global payment giant Visa to launch a new real-time cross-border money transfer service named Remit!. This groundbreaking service is poised to modernise the region's payments infrastructure and support greater financial inclusion.
What is Remit!?
Remit! is a real-time global cross-border transfer service powered by Visa Direct, enabling ADIB customers to send money instantaneously around the world. With this partnership, ADIB customers can now send funds to over 11 billion cards, digital wallets, and accounts globally, positioning ADIB as the first bank worldwide to offer such extensive reach.
The Technology Behind Remit!
The service is built on Visa’s global money movement network, offering secure transfers. Visa Direct also includes features like Visa+ which lets businesses and financial institutions send funds using just the recipient’s mobile number or email instead of full banking details, simplifying the process.
Benefits for ADIB Customers
The Remit! service offers several advantages to ADIB customers:
- Speed and Real-Time Access: Transfers are immediate, addressing traditional delays in cross-border remittances.
- Security and Privacy: Digital transfers via Visa Direct offer safer and more private transactions compared to traditional methods.
- Convenience: Eliminates the need for senders to visit physical locations; funds can be sent digitally from anywhere.
- Cost Efficiency: Designed to tackle high fees and pain points commonly associated with remittances in the Gulf region.
Market Context
There is strong demand in the UAE for faster, safer, and more transparent money transfers abroad. According to Visa's 2025 remittance study, 95% of surveyed consumers in the UAE send money overseas annually, and a majority prefer digital channels due to speed and privacy concerns.
Strategic Significance
The partnership underscores ADIB’s commitment to digital innovation and positions the bank as a leader in customer-centric financial services in the global remittance space. Visa also aims to expand real-time money movement across the Middle East through this collaboration.
In summary, the Visa Direct and ADIB partnership delivers a fast, secure, and highly accessible cross-border money transfer service with unprecedented global reach and digital convenience, directly addressing key consumer frustrations in the UAE and beyond.
The new service Remit!, a real-time cross-border money transfer solution developed by Abu Dhabi Islamic Bank (ADIB) and Visa, enables ADIB customers to send money instantaneously to over 11 billion cards, digital wallets, and accounts worldwide, leveraging Visa's global money movement network. Owing to Visa Direct and Visa+'s features, this digital transfer service offers speed, real-time access, security, privacy, convenience, and cost efficiency to ADIB customers, catering to the growing demand for faster, safer, and more transparent money transfers in the UAE. With this strategic partnership, ADIB transformed its position in the banking industry as a global leader in customer-centric and technologically advanced financial services, while Visa aims to extend real-time money movement across the Middle East.
