Pilot project partnership to boost region’s contactless payment infrastructure
United Arab Emirates--(BUSINESS WIRE/AETOSWire)-- Making yet another technological leap in payments, IDEMIA, the global leader in Augmented Identity; Network International, the leading payment solutions provider in the Middle East and Africa (MEA) region, and Mastercard, a leading technology company in the global payments industry, have teamed up to launch a project to enable merchants to use smartphones to accept contactless payments.
A first-of-its-kind initiative in the MEA region, the partnership project will enable UAE-based Network International merchants to accept contactless transactions using any near-field communication (NFC)-enabled Android smartphone, thus simplifying their payment acceptance processes significantly. Network International is the largest merchant acquirer in the UAE and the initiative marks a significant step towards enhancing the nation's payment infrastructure, in the wake of rising consumer awareness of contactless and mobile payments.
This smartphone-turned point-of-sale (POS) solution will provide small merchants, who previously relied on cash and checks to accept payments, with a simpler and more secure way to run their business. Merchants can download and install an app, create an account with their payment service provider and start accepting contactless transactions from their customers without separate payment terminal or any peripheral device, as well as associated costs. Furthermore, it offers innovative solutions to large merchants to enable safe and convenient payment-on-delivery options for their customers. The new solution will also offer a queue-busting feature where merchants can enable their customers to avoid queues and cash exchanges at sporting, music and other events.
The mobile payment solution, which integrates Mastercard’s advanced security technologies, will allow consumers to make quick, convenient and secure electronic transactions by tapping their contactless card or smartphone (using a digital wallet, e.g. Masterpass) on the merchant’s device.
IDEMIA is leveraging its leading position in the payment ecosystem, working with more than 1,800 Financial Institutions and the major mobile operators, to offer an end-to-end mPOS contactless service, allowing NFC devices to accept secure contactless payments.
Muzaffar Khokhar, President of Middle East Africa region at IDEMIA, said: “At IDEMIA, our focus is on enabling the digital transformation by bringing to the market the latest technology and innovation to enhance, simplify and secure the payment experience for both businesses and consumers. We are very excited to support Network International, our long-standing strategic partner, in introducing the mPOS solution to the MEA region.”
“Network International is delighted to introduce this innovation to our UAE merchants in collaboration with global technology leaders, IDEMIA and Mastercard,” said Paul Clarke, Group Head of Product & Innovation, Network International. “The initiative reaffirms our commitment to enhancing the UAE’s payment ecosystem through innovative technologies and global best practice and we look forward to expanding its success across our MEA network.”
“As a leading technology company that strives to transform the global payments industry and drive cashless transactions in the UAE and the wider region, Mastercard is committed to enabling every connected device to accept payments. With 'Tap-on-Phone', our latest digital payment solution, merchants, particularly small and micro merchants, who have traditionally taken cash and check payments, can enable their customers to make contactless transactions by making the most out of their existing digital devices. 'Tap-on-Phone' solution eliminates any additional cost of acquisition, a major hindrance to the widespread adoption of cashless payment acceptance solutions in the region, thereby enabling even the smallest of small businesses and entrepreneurs to enter the digital world of payments. As a forward-looking economy, the UAE has been at the forefront of innovation and adoption of new technologies, and the introduction of the new smartphone-based payment solution will accelerate its digital endeavors. This will also contribute to the country’s efforts to empower its small and medium enterprises, the main backbone of its economy, to further its economic growth and development,” said Girish Nanda, General Manager, UAE & Oman, Mastercard.