DUBAI, United Arab Emirates--(BUSINESS WIRE)--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.
OT-Morpho is now IDEMIA, the global leader in Augmented Identity for an increasingly digital world, with the ambition to empower citizens and consumers alike to interact, pay, connect, travel and vote in ways that are now possible in a connected environment.
Securing our identity has become mission critical in the world we live in today. By standing for Augmented Identity, we reinvent the way we think, produce, use and protect this asset, whether for individuals or for objects. We ensure privacy and trust as well as guarantee secure, authenticated and verifiable transactions for international clients from Financial, Telecom, Identity, Public Security and IoT sectors.
OT (Oberthur Technologies) and Safran Identity & Security (Morpho) have joined forces to form IDEMIA. With close to $3 billion in revenues and 14,000 employees around the world, IDEMIA serves clients in 180 countries.
About Network International
Established in 1994, Network International LLC is the largest acquirer in the UAE, and a leading payment solutions provider in the Middle East and Africa region (MEA), servicing more than 70,000 merchants and 200 financial institutions across 55 countries. The company’s service offering comprises a comprehensive range of payment products and services for both the Issuing and Acquiring segments of banks, financial institutions and retail merchants including end-to-end consultancy ranging from planning and designing to developing of new card and consumer finance products and services. In addition, the company offers several value-add products including data analytics, scoring and loyalty solutions. Network International has Operation centers in the UAE, Egypt, Jordan, South Africa and India, with its corporate head office in Dubai. The company recently acquired Emerging Markets Payments Holdings Limited (EMPH) and continues to invest in strategic partnerships that will increasingly see its influence spread across the region.
As the first independent vendor certified by both Visa & MasterCard for card payments in the Middle East, Network International is a Principal Member of Visa International and MasterCard International in the UAE and enjoys extension of its MasterCard License in other key countries. It is also a member of JCB and Union Pay card schemes, and it owns and manages the Diners Club International Franchise in the UAE, Egypt, Lebanon and Jordan. The company also launched a GCC-based domestic scheme, Mercury, and partnered with Discover Financial Services (DFS) to allow global acceptance of Mercury cards on the Discover, Diners Club International and PULSE networks. Network International is a Payment Card Industry Data Security Standard (PCI DSS) certified company.
For more information, visit www.network.ae/
Mastercard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. Our global payments processing network connects consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MastercardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.