NI launches new UAE payment programme
Dubai, April 23, 2013
Network International, the leading independent payment solutions provider in the region, has launched “Mercury,” the first-ever UAE-focused closed loop prepaid programme which will facilitate the direct issuance of a wide range of domestic prepaid cards.
Through the Mercury platform, Network International plans to offer UAE residents a wide range of cost-effective and value-added domestic prepaid payment alternatives.
The Mercury platform will enable the acceptance of these cards at all Network International POS terminals, and ATM’s of participating member banks, across the UAE.
The launch of Mercury is in line with Network International’s strategic objective to offer pioneering solutions in the payment space, and follows closely from its recent launch of the world’s first EMV-compliant mobility solution.
Mercury brings to the UAE market a much-needed and long awaited prepaid payment program, through which customers can leverage and enhance the overall prepaid experience.
Combining value-added functions like ‘Loyalty’, ‘Bill Payments’, ‘Remittances’ and ‘Top-Ups’ to name a few, the Mercury program promises to transform the prepaid experience by launching UAE-centric products, and at the same time improve business profitability.
“Being a pioneer of card management solutions, we constantly look at bridging market gaps through innovative service offerings, and the launch of Mercury is part of our customer-focused strategy to meet the growing needs of our clients, and end users in particular,” said Bhairav Trivedi, the CEO of Network International.
“The launch is in response to increasing customer demand for innovative prepaid programs in the UAE and we are confidentthat this willtransform the manner in which transactions are processed in the market,” remarked Trivedi.
Paolo Zambonini, the executive VP of Product and Marketing, Network International, said, "With the launch of Mercury, NI becomes the first company in the UAE to offer a platform that enables members to issue a private label prepaid card and have this accepted in a completely closed-loop environment, thereby improving transaction-level profitability for Issuers.”
“Our aim is to serve the UAE with winning and innovative payments solutions, and additional announcements will follow in due course outlining even more value that Mercury will bring to the markets we serve,” added Zambonini .-TradeArabia News Service
More Finance & Capital Market Stories
- Qatar sets up mixed business incubator
- Kuwait budget spending up 8pc in April-Jan
- Thomson Reuters to host Mena IFR awards
- ADIB offers smartphone industry investment
- Gulf Finance House to start $3bn Tunisia project
- KFH completes ICT project upgrade
- Egypt urban annual inflation slows to 9.8pc
- BIBF signs deal with Palestinian institute
- Bahrain’s GDP set to expand 12pc
- KFH-Bahrain rebrands priority banking
- Bank Nizwa wins top Islamic bank award
- Qatar labour costs may jump: IMF
- Kuwait Q3 trade surplus hits $23bn
- Dubai trade growth up 7.6pc to $362bn
- Deloitte appoints new managing director
- Al Ramz tops UAE trading in Feb
- IFC in $150m loan deal with Bank Audi
- SME funding focus for Abu Dhabi forum
- Insurance House posts second year of profit
- ETF global assets hit record $2.44 trillion
- Bahrain firms plan IPOs
- Serbia wins $1bn Abu Dhabi loan
- Key equity banker resigns from Saudi Fransi
- DMCC to boost Islamic commodity trade with tie-ups
- IDB, KIA units to invest in Morocco
- First Gulf to set up $1bn sukuk in Malaysia
- Singapore’s UOB Bullion and Futures joins DGCX
- Infrastructure investment ‘key to growth’
- BKIC declares 30pc dividend
- StanChart profit falls 16pc in 2013