MasterCard and Souq.com, the Middle East’s largest online retail and marketplace platform, have partnered to provide customers a seamless payment solution to complete purchases using MasterCard’s payment system.

The collaboration was announced on the sidelines of the 10th edition of the World Retail Congress which takes place in Dubai, UAE from April 12 to 14.

MasterCard and Souq.com will also collaborate on joint marketing campaigns as they encourage more consumers to benefit from cashless payments.

Raghu Malhotra, president, Middle East and Africa, MasterCard, said: “We are excited about bringing advanced payment capabilities to Souq.com and giving customers an even better online shopping experience. MasterCard is building capabilities and working with e-commerce industry leaders like Souq.com to provide shoppers with an online experience that is not just easy and convenient, but also safe, secure, personalized and relevant.”

“As the regional e-commerce industry continues its rapid growth and starts to mature, we are excited to contribute to this development by bringing our innovation and global expertise to create a sophisticated payment ecosystem powered by advanced data analytics,” he added.

Ronaldo Mouchawar, CEO & co-founder of Souq.com said: “We have a long standing partnership with MasterCard and together we are committed to growing e-payments in the Middle East, particularly through m-commerce which is currently experiencing a huge uplift. M-commerce has been a huge driver for e-commerce growth in the region and credit card payments further simplify the shopping on-the-go, as one can save payment details on the device and pay on click of a button.”

“This is the perfect time for such a partnership where we can offer the growing number of tech-savvy consumers who understand the benefits of e-payments even more such as speed, convenience, security and value for money. Souq.com focuses on empowering consumers to make smarter choices, which includes providing secure payment platform and this partnership will further broaden safe payment options for our consumers,” he added.

MasterCard will also utilise insights through its data analytics platform to develop a deeper understanding of shopper behaviour on Souq.com to enhance the overall shopping and payment experience for customers. This move will assist Souq.com in further new product development and service enhancements to provide customers with an unrivalled payment experience, a statement said. – TradeArabia News Service