Enabling contactless purchasing for the first time in the Kingdom
Amman, April 2016 – In line with its continuous efforts to introduce cutting-edge global payment technologies to the local market, for the first time in Jordan, Middle East Payment Services (MEPS) - a consortium of elite local and regional banks that serves as a leading, innovative payment services provider in the Middle East - has announced its introduction of contactless payment technology for the execution of transactions. By providing points-of-sale (POS) across the country with the most advanced contactless-compatible VeriFone and Spire payment devices, the Company will provide a payment method for MasterCard PayPass and Visa PayWave holders that is quick, easy and secure. The first contactless transaction in Jordan took place at Aldeasa - Jordan Airport Duty Free Shops. Utilizing Near Field Communication (NFC) technology, contactless payment cards are equipped with a radio-frequency identification (RFID) chip able to wirelessly transmit data, eliminating the need for card holders to swipe their card in payment devices or to input their PIN at multiple vendors’ POS. After the merchant has entered the purchase amount, to complete the transaction from a distance, card holders must simply pick up their card and pass or wave it in the direction of the payment device, resulting in a fast, comfortable and easy process for vendors and customers alike. This state-of-the-art technology can also be used to help customers control and manage their spending. Dedicated solely for low-value purchases, contactless payment entails a pre-defined purchase limit instated by the issuing bank, taking into consideration that customers must enter their PIN at the POS if making purchases ranging from JOD 35 and 100. Furthermore, contactless card-reading payment devices installed by MEPS can be used with all NFC-equipped cards and smartphones, as well as other devices and accessories containing NFC tags. “As the first to launch contactless payment technology for purchases in Jordan, we at MEPS have undertaken this step in light of our firm commitment to providing optimal levels of efficiency, flexibility and competency to our clients, whether they be institutions or individuals,” said MEPS CEO, Khaled Zakaria. “In addition to providing Visa PayWave and MasterCard PayPass card holders with the capacity to better manage their spending and purchases, this technology allows them to conduct their transactions quickly and easily, achieving absolute safety throughout the purchasing process.” Zakaria added, “The implementation of contactless payment technology is an integral part of MEPS’ vision to become the premier Company for electronic and mobile payment solutions for financial institutions, corporations, small- and medium-sized enterprises and individuals in Jordan and across the Middle East, which we will achieve by introducing advanced, innovative cutting-edge secure payment solutions. Founded in 2009 and owned by eleven local and regional leading banks and companies, MEPS is an innovative, regional payment services provider, offering payment card services, ATM management, secure point-of-sale (POS) devices, e-commerce payment gateway solutions, fraud monitoring and loyalty programs. Additionally, MEPS is a payment processor, card issuer and merchant acquirer.