MasterCard has partnered with UAE-based online payment service provider Payfort to introduce the next generation of payment solutions in the Middle East.
Powered by MasterCard Payment Gateway services, Payfort’s online payment solution will enable consumers to enjoy greater ease and enhanced security while shopping online.
Additionally, it will enable e-commerce merchants to offer shoppers with an extra layer of security, powered by MasterCard’s fraud-screening solutions.
Payfort customers in the UAE will also benefit from MasterCard’s digital wallet solution, Masterpass, which provides a simplified and secure shopping experience with an easier checkout process.
Masterpass makes online shopping safe and hassle-free, as its stores consumers’ payment, billing and shipping information in one secure and convenient place.
In line with MasterCard’s vision of a ‘World Beyond Cash’, the agreement will also offer online shoppers the convenience to pay with their MasterCard branded cards at the time of delivery using mobile point-of-sale (mPoS) solutions.
MasterCard division president of Middle East and North Africa Khalid Elgibali said: “The online business industry in the Middle East and North Africa region is expected to reach $69 billion by 2020, according to Payfort State of Payments 2016.
“With this tremendous growth comes a greater need to make e-commerce transactions simpler, more secure and seamless for both merchants and consumers.
“Our collaboration with Payfort will help create a sophisticated and safe online payments environment – increasing the confidence of all stakeholders involved in an e-commerce transaction through our cashless solutions.”
Payfort managing director Omar Soudodi said: “We are pleased to partner with MasterCard and allow Payfort merchants to quickly and easily integrate breakthrough security solutions into their payment processes, helping them to increase credit card acceptance both online and offline.”