EMP expands Iraq card operations
Amman, May 25, 2013
Emerging Markets Payments (EMP), a leading electronic payments processing company in the Middle East and Africa region, has signed an agreement with Horizon Scope to promote its third party card processing services to banks in Iraq.
Horizon Scope is a subsidiary of ARCHS Group and specializes in providing cutting edge solutions in the fields of telecommunications and information technology.
As per the deal, Horizon Scope will be handling marketing activities on behalf of EMP in Iraq. Horizon Scope currently operates 8,000 terminals across Iraq to enable airtime purchases.
The agreement was signed by Paul Edwards, EMP Group chairman, and Yazan Al Sabbagh, Horizon Scope executive director.
“As we continue to expand across the Middle East, we will aim to strengthen our position by partnering with industry leaders, such as Horizon Scope. We are committed to growing our presence in Iraq and the region, and in doing so providing world-class, reliable processing services to our clients,” said Edwards.
“Over the years, we have built a well-founded reputation across the markets of the MEA as the leading smart card processing company. We handle the processing requirements of 135 banks, 30 000 retailers, as well as governments and consumer finance institutions, in 45 countries and support all card associations and all electronic distribution channels,” he stated.
According to him, EMP is expanding its business in the Levant and Iraq.
In Jordan it operates the national ATM switch, Jonet, and has an 85 per cent market share for merchant acquiring. As part of its focus on expanding into Iraq, it concluded an agreement with The Bank of Baghdad in 2012 to provide card hosting and transaction management services, as well as card personalization, and ATM and POS driving.
Commenting on the deal, Al-Sabbagh said, "We have been successfully operating in the Iraqi market for a long time, and have demonstrated our commitment to always offer innovative financial solutions to our clients."
"Moreover, we are proud of this mutually beneficial alliance with EMP, which is in line with our strategy to enhance and develop the country’s banking sector in general and its card industry in particular," he added.-TradeArabia News Service