MasterCard, MEPS ink services tie-up
Amman, April 1, 2013
MasterCard has signed an alliance agreement with Middle East Payment Services (MEPS) that will allow MasterCard to support MEPS with a suite of services, technical support, training, and new payment platforms.
With this enhanced collaboration, MasterCard’s point of sale and ATM acceptance will increase across Jordan and the Levant, thereby allowing more consumers to access MasterCard’s global payments network.
MEPS’ members and client banks will now also be able to leverage MasterCard’s acquiring and issuing capabilities across several merchants, ATM, and e-commerce channels.
Basel El Tell, market manager of MasterCard Levant, said: “MEPS is our key acquirer partner in Jordan and today’s agreement has paved the way for MasterCard to deliver global innovation in payment solutions to consumers in Jordan through an established local partner.”
“Consumers and card issuers will now experience enhanced security and increased channel presence, which will drive adoption and usage of electronic transactions in Jordan. The alliance will also open up a new e-commerce channel for merchants, which can drive new revenue streams for their businesses.”
MasterCard will also launch its domestic processing capabilities in Jordan and Levant and introduce new platforms such as the MasterCard Internet Gateway Service (MiGS) for online payment acceptance and the MasterCard Expert Monitoring System (EMS) for fraud monitoring and protection.
Chairman and CEO of MEPS Dr Abdel Malek Jaber said: “E-commerce and online payment solutions are becoming vital in many aspects of our lives. E-commerce volume in the Mena region reached around six billion in 2012 and is expected to reach 16 billion in 2016.”
“MEPS is leading the way in the region through introducing the most innovative payment solutions in the Levant.
“MEPS is proud of its strategic alliance and partnership with MasterCard, and is confident that with the introduction of MasterCard’s new technology platforms, the electronic payments landscape in Jordan will witness significant growth and will be a positive enabler for the economic growth that the Kingdom is aspiring towards,” he added. – TradeArabia News Service
More Finance & Capital Market Stories
- Acuma names new UAE head
- Qatar says no plans to issue international debt in 2014
- Motivation 'is crucial for growth'
- Islamic banking ‘sustainable way forward’
- Top Swiss group acquires Merrill Mideast units
- AAIB unit starts crisis assistance travel service
- Abu Dhabi may need to lower industry growth target
- Kuwait credit hits 5-year high; tops $1.3bn
- UAE stocks rally, Abu Dhabi tops 4,000 mark
- Abraaj completes 15 exits in 2013