Network International, Dubai-based leading enabler of digital commerce across the Middle East and Africa (MEA), has partnered with Mastercard, a technology leader in the global payments industry, to launch Tap on Phone technology, which enables mobile phones to act as payment terminals.
Tap on Phone powered by Mastercard Payment Gateway Services (MPGS), gives small and medium-sized businesses (SMEs) the ability to accept payments through a smartphone. Customers will simply tap their card or device to make the payment on the SME merchant’s phone, with each transaction processed through MPGS.
In an omnichannel environment where consumers increasingly want more choice to pay the way they want to, Tap on Phone is an innovative, affordable, convenient, and welcome addition to the payment ecosystem.
SMEs are recognizing the potential of digitalization, and have identified digital payment acceptance among the top drivers for growth. Three in four SMEs in the Middle East and Africa are optimistic about the next 12 months, according to the inaugural Mastercard MEA SME Confidence Index.
“We are excited by the possibilities that expanded digital payment acceptance offer, not just for merchants and businesses, but also to the regional economies and communities that will benefit from the resulting growth in commerce. Our ongoing collaboration with Network International continues to go from strength to strength in activating expanded access to the tools and technology that are adding value and creating a foundation for shared prosperity.”
“As a leading enabler of commerce, we remain committed to connecting SMEs, the backbone of any economy, with innovative solutions that will drive wider acceptance across the region. We are proud to partner with Mastercard to grow the opportunities for entrepreneurs through the launch of Tap on Phone,” said Mr. Andrew Key, Group Managing Director – Acquiring, Network International.
Mastercard made a strategic investment in Network International as a cornerstone investor, followed by a five-year commitment to developing new payment solutions for customers to accelerate the adoption of cashless payments in the region and promote a world beyond cash.