Emerging Markets Payments (EMP), a leading electronic payments processing company in the Middle East and Africa, has signed a key agreement with Middle East Payment Services to provide a unified Point-of-Sale (POS) service across Jordan.

A leading payment services provider in the Levant, MEPS said this collaboration will allow the two companies to work together to further enhance electronic payment offerings in the Jordanian market.

EMP Group chairman Paul Edwards said the agreement aims at providing better service to cardholders and merchants by providing a single POS terminal that will accept all major card schemes.

"This will greatly help overcome the challenge faced by merchants, as they will no longer require multiple POS terminals to cover all card schemes and acquirers. This saves unnecessary costs and  is also more convenient for cardholders," he noted.

Dr Abdul Malik Al Jaber, the chairman of MEPS, said: "Jordan enjoys a very strong banking sector supported by a solid regulatory environment. However, the rate of card usage compared to card issuance is relatively low. EMP and MEPS believe that by combining their POS fleet, under EMP’s management, they will provide a better experience for both merchants and cardholders."

"This is expected to positively reflect on card usage rates," he stated.

Dr Al Jaber pointed out that Jordan was the hub of MEPS’ operations which currently extends to Iraq and Palestine. The company now plans to spread its network into North Africa.

“MEPS is well aware that e-commerce, which is forecast to reach $16 billion by 2015, poses huge potential for the e-payment industry. MEPS is committed to providing the Jordanian and regional markets with innovative and secure online and mobile payment solutions that cater to the needs of all parties within the payment cycle,” remarked Izdehar Safarini, the deputy CEO of MEPS.

“We believe that our partnership with EMP will positively impact MEPS’ operations, as well as the entire e-payment sector in Jordan,” he added.-TradeArabia News Service