Deal to offer cashless payment services in Levant

In a move that will open a new chapter of electronic payments for consumers in the Levant region, Middle East Payment Services (MEPS), a consortium of 7 Arab Banks providing payment processing services in the Middle East, and MOBIbucks, the leading mobile payments technology company in the world, signed a partnership agreement yesterday that enables consumers in the Levant region to avail to the first cardless and cashless payment service.

Ziad Alshobaki, MOBIbucks managing director of MENA operations, announced that the service will be offered very soon to other parts of the Middle East.

Alshobaki said MOBIbucks was delighted to offer its innovative solutions that enable consumers to make everyday purchases using just a cell phone number, without the need for cash, card or even mobile phone to be in the user’s possession. Through this partnership MEPS will offer the MOBIbucks mobile payment solution to banks as well as to businesses, such as restaurants, fast food outlets and coffee shops.

“MEPS is leading the way in the development of the payments landscape in Jordan,” said Dr. Abdul Malik Jaber, CEO of Middle East Payment Services. “The emerging needs for payments in the digital economy demand new payment tools.  MOBIbucks is such a tool.  MOBIbucks is a unique system with a wide variety of functionalities that will be used by consumers for such things as frequent low-value purchases, person-to-person (P2P) payments and money transfers.  It will facilitate their transactions and make their lives easier.”

“Jordan in particular and the Levant region in general is a fast-growing digital economy.  It boasts a mobile phone penetration rate exceeding 100%. These factors make mobile payments a natural fit,” said Alshobaki.  “We are proud to partner with MEPS, one of the pivotal institutions in the Levant, to deliver a contemporary mobile payment platform that meets the needs of today’s – and tomorrow’s — consumer.”

“Jordan is a key market for us in the Middle East,” said Jorge Fernandes, CEO of MOBIbucks.  “With this initiative, Middle East Payment Services is laying the foundation to empower consumers in Jordan with the most innovative and contemporary method for doing payment transactions.”

MEPS offers payment management services to banks and facilitates payment for other businesses, such as hotels, restaurants, travel and tourism agencies, car rental, hospitals and a variety of shops in Jordan, Iraq and Palestine. Middle East Payment Services is owned by a number of Jordanian banks.

MOBIbucks unique mobile payments and mobile marketing solutions are based upon a patent-pending technology platform. MOBIbucks is the only mobile payment solution for making purchases using just a mobile phone number. The company’s mobile marketing and rewards solution is a powerful, paperless, card less merchandising tool to offer coupons, loyalty rewards, gift cards and even online ordering.