An estimated 500,000 new merchants across the Middle East and Africa will soon be able to benefit from simple, seamless and convenient digital payment acceptance via Network International’s Tap on Phone technology, which enables mobile phones to act as payment terminals. The initiative marks a new milestone between Mastercard and Network International.
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 omni-channel 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.
“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,” said Khalid Elgibali, Division President MENA, Mastercard.
Small and medium-sized businesses 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.
Making sure that SMEs have all the support they need to go digital and grow digital is a key focus for Mastercard and Network International. The two companies work closely with government, financial organizations, fintechs, and the wider business community to create opportunities for SMEs across the region.
“As a leading enabler of commerce, we remain committed to connect 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 Andrew Key, Group Managing Director – Acquiring, Network International.
