© 2018 Meps. All Right Reserved
Mastercard welcomes MEPS as Global Fintech Express Partner
Mastercard has announced that regional payment services provider Middle East Payment Services (MEPS) is now a global partner of Mastercard Fintech Express, which connects tech-savvy start-ups with banks, financial institutions, and payment service providers. Mastercard Fintech Express supports digital payment innovators in securing the licensing to issue Mastercard prepaid, debit and credit cards either directly with Mastercard or through its qualified ‘Express Issuance’ partners. The new digital age spawns a new set of nimble players who are keen to co-create and innovate on Mastercard’s network with speed. Through the Mastercard Developers portfolio, the company presents a rich suite of capabilities for partners to innovate and provides flexibility as well as a single point of entry to technology, products and solutions such as Fintech Express. The partnership with MEPS will enable start-ups and other fintech players to start their Mastercard issuing business at speed, unlocking more opportunities for the entire ecosystem. “With market conditions constantly evolving, Mastercard is continuously working with our partners to support startups in their digital transformation journeys. We are delighted to welcome MEPS as one of our newest global partners and look forward to collectively driving fintech innovation, seamless user experiences, wider inclusion, and increased competitiveness across the region,” said J.K. Khalil, Country Manager, Saudi Arabia, Bahrain & Levant, Mastercard. Mastercard Fintech Express was launched last year and is split into three core modules. Access enables regulated entities to obtain a Mastercard license and access its network through a streamlined onboarding process. Build helps fintechs as processors to become an Express Partner by building unique tech alliances and benefiting from advantages that Mastercard provides. Connect makes it easy for start-ups who want to add payment solutions to their suite of products, to connect with qualified Express Partners available through Mastercard Engage, and go live with Mastercard in a matter of days. MEPS is a principal Mastercard issuer and acquirer with presence in Jordan, Iraq, and Palestine. The company offers financial institutions, merchants, and corporations, a complete range of secure payment solutions in card issuance/hosting, payment processing, digital wallets, ecommerce & point-of-sale (POS) acquiring, ATM driving and management, in addition to customized value-added services adhering to PCI Data Security Standards. “Being the first company in Jordan to be selected for Mastercard Fintech Express underscores our continuous efforts to add value in Jordan’s payment landscape. Through this partnership, MEPS is formally penetrating a new market segment, allowing it to connect with start-ups and FinTechs, providing them with payment solutions that accelerate their growth and as such, ultimately, allows MEPS to grow with them,” said Ali Abdel Jabbar, CEO of MEPS. In addition to Mastercard’s growth-focused digital expertise, the technology company has the global reach, network of partners and local knowledge to support fintech companies of all sizes and rapidly take innovative solutions to market. Mastercard makes it easy for fintech innovators to unleash the vast utility of its network to power new ways to pay, infuse trust across the payments ecosystem and connect 1 billion people to the digital economy.
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