MasterCard in payment network expansion
Dubai, October 18, 2012
MasterCard, a global payments and technology company, has collaborated with region’s leading acquirer Network International to enhance the acceptance infrastructure of its contactless payment solutions in the UAE.
This will be done with the installation of MasterCard PayPass terminals deployed across over 1,000 stores including popular coffee joints, fast food restaurants, family diners, cinemas, general retailers and convenience stores by year-end, said a company statement.
In line with its objective to introduce the latest payment solutions in the region, MasterCard has taken the initiative to promote the widespread adoption of contactless payments across the Middle East with countries such as UAE, Qatar and Lebanon already showing keen interest in the new payments technology.
PayPass is MasterCard’s contactless payment platform that provides consumers with a secure, fast and highly convenient way to pay.
Consumers can simply tap their MasterCard PayPass enabled debit, credit cards or any other PayPass enabled device such as smart phones, watches, wrist bands in front of a secure reader that accepts MasterCard PayPass payments, said a top official.
"As we continue to drive additional PayPass acceptance among banks and merchants, local consumers can expect secure and convenient solutions to their everyday transactions," remarked Eyad Al-Kourdi, the VP and country manager, UAE, MasterCard Worldwide.
"The introduction of more than 1000 PayPass terminals across the UAE will provide consumers with improved access to faster payments at check-out," Al-Kourdi stated.
“With the enhanced acceptance infrastructure, we expect PayPass to undergo a rapid transition from being a novel new technology to an everyday shopping experience which provides yet another innovative option for consumers in the UAE to pay for purchases,” he added.-TradeArabia News Service