MasterCard will provide integrated processing services to customers across the Middle East and North Africa (MENA) through an end-to-end, multi-brand cards and payments processing center located in the UAE.
“The MasterCard Processing Center is a continuation of our global strategy to expand the company’s processing presence in high growth markets, bringing solutions closer to customers,” explains Cathy McCaul, President of MasterCard Global Processing. “By harnessing our global expertise, and using that to address specific market needs, we will have the ability to provide customers with integrated issuer and acquirer processing services using a state-of-the-art platform. There is a particular need for this in emerging markets where the rapid change in products and the growth in electronic payments challenge the capacity, security and capability of existing systems.”
The MasterCard Processing Center is designed to be a one-stop-shop for financial institutions, governments and telecommunication companies, for all their payment processing requirements.
“As consumers continue to embrace electronic payments, MasterCard Processing will ensure partners are well positioned to respond to evolving demands and allow them to offer the most advanced products and services,” says Raghu Malhotra, division president, Middle East and North Africa, MasterCard. “MasterCard Processing will be built as an integrated solution with the most advanced software so it will not have constraints sometimes found in legacy systems. This will ensure a seamless transition to next generation payment solutions like‘MasterPass’. Eventually, it will also help integrate additional value-added services around multi-channel platforms including e-commerce and m-commerce.”
“Financial institutions in emerging markets usually face constraints that hinder the investment in and adoption of technologically-advanced solutions. With the launch of MasterCard Processing, we have created a unique platform that will now allow our customers to swiftly bring cost-effective innovative solutions to market. We are excited to bring this global capability to the region and we are confident that it will help drive the adoption of next-generation payment solutions,” concluded Malhotra.
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