Published: 2026-08-19
Sending money abroad from the UAE just gained a credit option. On 2026-08-19 Payit, the digital wallet powered by First Abu Dhabi Bank (FAB), launched Send Now Pay Later (SNPL), a feature that lets eligible customers complete an international money transfer instantly and repay the amount within 30 days. FAB positions the feature as the first of its kind in the UAE market. Approval happens inside the app in minutes, with no paperwork and no branch visits; a late payment fee of AED 10 applies if the balance is not settled by the due date. The launch lands in one of the world’s largest remittance-sending markets: outward personal remittances from the UAE reached about AED 183 billion in 2024, according to Central Bank of the UAE statistics.
What FAB announced
According to the announcement reported by Gulf News on 2026-08-19, Send Now Pay Later is built directly into Payit’s existing international remittance service, which covers transfers to more than 200 countries. The transaction flow stays the same: the customer initiates a transfer as usual, and the new feature adds a short-term credit layer on top, so the money leaves immediately while the sender settles the amount within 30 days.
FAB says the product gives eligible customers greater flexibility and control over how they send money internationally, and describes Payit as a platform designed to simplify everyday money management by bringing together payments, remittances, rewards and financial services in one secure experience. The bank names three typical scenarios for SNPL: supporting family during emergencies, covering unexpected expenses, and managing finances between paydays.
How Send Now Pay Later works
The mechanics are straightforward and fully digital:
- Eligibility check runs inside the Payit app; qualifying users receive an approved SNPL limit in a few minutes.
- The customer sends an international transfer instantly, up to the approved limit.
- If the transfer amount exceeds the SNPL limit, the remaining balance is paid from the customer’s Payit Digital Account balance.
- The borrowed amount must be repaid in full within 30 days.
- Pricing consists of a one-time service fee plus the applicable transfer fees; missing the due date triggers a late payment fee of AED 10.
Key parameters at a glance:
| Parameter | Detail |
|---|---|
| Launch date | 2026-08-19 |
| Provider | Payit digital wallet by First Abu Dhabi Bank |
| Repayment window | 30 days |
| Approval | In-app, minutes, no paperwork |
| Late payment fee | AED 10 |
| Fees | One-time service fee plus standard transfer fees |
| Coverage | International transfers to 200+ countries |
| Who is eligible | Verified Payit users, UAE residents with a valid Emirates ID |
Why it matters: the UAE remittance market
The UAE is consistently ranked among the top remittance-sending countries in the world. With roughly 90 percent of the population made up of expatriates, outward personal remittances reached about AED 183 billion in 2024, and the largest corridors run to India, Pakistan and the Philippines. Until now the market competed mainly on exchange rates, speed and fees; SNPL introduces a new competitive dimension, short-term credit attached to the transfer itself.
The move fits a wider pattern in UAE fintech: pay-later mechanics are spreading from retail checkout into core financial services. Dubai is preparing a similar model for housing, as we covered in our review of the Rent Now, Pay Later scheme that splits annual rent into interest-free monthly instalments. On the payments side, the national card scheme is expanding abroad through the Jaywan and UnionPay partnership covering 183 countries. Banks are effectively unbundling classic credit products into small, embedded, app-based features, and remittances, one of the highest-volume retail flows in the country, are a natural next target.
What it means for residents and businesses
For individual senders the value is timing flexibility: a transfer no longer has to wait for payday when the need is urgent. For anyone doing business in or with the UAE, the launch is another signal worth reading:
- Banking competition is intensifying in retail payments: FAB, the UAE’s largest bank by assets, is using its wallet to defend share in a remittance market traditionally dominated by exchange houses.
- Embedded credit is becoming standard: expect competing wallets and exchange houses to respond with their own pay-later or instalment features.
- Fully digital onboarding keeps expanding: an Emirates ID and an in-app check now unlock a credit decision in minutes, which shows the depth of the UAE’s digital KYC infrastructure.
- For employers, staff who send money home gain a built-in buffer for emergencies, a small but real factor in financial wellbeing for the UAE’s expat workforce.
- For fintech founders, the UAE remains a market where a licensed incumbent can ship consumer credit innovations quickly, a benchmark to factor into any product roadmap aimed at the region.
How Atlant Capital can help
Atlant Capital works with the UAE banking system every week, for companies rather than consumers. If the pace of fintech innovation here is one of the reasons you are considering the market, we handle company registration in UAE free zones and mainland, typically within 1-2 weeks, and manage corporate bank account opening end to end, including preparing the file that UAE compliance teams expect to see. We know which banks suit which business profiles, from holding structures to trading and services companies, and we accompany the process until the account is live. One point of contact, fixed fees, realistic timelines.
FAQ
What is Payit Send Now Pay Later?
Send Now Pay Later (SNPL) is a feature launched on 2026-08-19 inside the Payit digital wallet by First Abu Dhabi Bank. Eligible customers send an international money transfer instantly and repay the amount within 30 days, with a one-time service fee plus standard transfer fees.
Who can use Send Now Pay Later in the UAE?
The feature is available to active, verified Payit users who are UAE residents holding a valid Emirates ID. The eligibility check runs inside the app and approved customers receive their SNPL limit within minutes, with no paperwork or branch visits.
What happens if I repay late?
A late payment fee of AED 10 applies if the amount is not repaid by the due date, which falls 30 days after the transfer. The core cost of the service is a one-time service fee plus the applicable transfer fees.
Can I send more than my approved SNPL limit?
Yes. If the transfer amount exceeds the approved Send Now Pay Later limit, the remaining balance is paid from the customer’s Payit Digital Account balance, so larger transfers combine credit and own funds in a single transaction.
