Arab African International Bank Launches Smart Payment Services “The Smart Bracelet and E-Tag”
Arab African International Bank has announced the launch of its latest smart payment solutions, represented by the *smart bracelet* and the *E-tag*.
These digital tools aim to facilitate purchases through fast and secure payments, allowing customers to complete their transactions without the need for traditional cards. This step comes as part of the bank’s strategy to enhance digital innovation and provide advanced payment solutions in line with the ongoing global developments in the banking sector.
Wearable payment products (Contactless Bracelet / Sticker) Terms & Conditions
Wearable payment products (Contactless Bracelet / Contactless Sticker) are subject to AAIB credit cards and/or debit cards terms & conditions noting the below:
- Wearable payment products are issued in EGP only.
- Wearable payment products are issued as additional cards for AAIB credit / debit cards. Accordingly, the Wearable payment products issuing process will be subjected to the same procedures followed when issuing supplementary cards, same procedures for setting up the personal identification number (E-PIN) for cards which will be through ATMs available on the website.
- You will receive your Wearable payment product inactive. To start using it, please call AAIB call center to activate it on 19555 from inside Egypt or +202 26733107 (24/7) from overseas.
- Daily limit for purchases using the Wearable payment products POS transactions amount (without Pin code) is up to EGP 600 or its equivalent in other currencies per transaction with a maximum of 10 transactions per day as it’s contactless only.
- In case the transaction amount exceeds EGP 600, the customer is required to enter PIN code. - Simply wave the contactless bracelet / sticker payment product in front of the contactless POS machine and go. - Wearable payment products can be used for POS machines payments only, can’t be used for online or mobile transactions.
- Wearable payment product can be settled through AAIB internet banking or AAIB mobile application.
- Contact AAIB call center on 19555 to report your Wearable payment products loss/damage to avoid using it when it’s stolen.
- To learn about our complaint handling procedures and customer rights, please visit the bank’s website [www.aaib.com](http://www.aaib.com).
- AAIB will follow the charge back rules on transactions made using the Wearable payment products. - SMS service on all purchase transactions.
- Credit payment products validity is 4 years and debit payment products validity is 5 years.
- All contactless wearables products either credit / debit is subject to the fees and commissions published on the AAIB official website [www.aaib.com](http://www.aaib.com).
- **How to use the Contactless Bracelet/Mobile Sticker for purchases at point of sale:**
- Customer will receive mini-electronic payment card “Mini-tag” in addition to the rubber bracelet through the courier company or a bank branch personally after the customer’s national ID verification upon delivery and signature over the receipt.
- The customer uses the "Mini-tag" payment card by placing it inside the rubber payment bracelet or sticking it to the mobile phone to start using it.
- This document is written in Arabic and English and in the event of conflict between the two texts, Arabic shall prevail.
