Mastercard and Sadad in strategic deal to drive digital payments in Qatar
Sadad, a leading company in online and electronic financial transactions offering multi payment solutions in Qatar, has entered into a strategic collaboration with Mastercard to introduce a new digital payment gateway platform.
Through this partnership, Sadad will deploy state-of-the-art payment solutions, powered by Mastercard Gateway, to enhance the customer experience for its merchants in the market.
The integration of Mastercard's technology with Sadad's platform will enable merchants to offer fast, seamless and secure transactions as well as convenient payment choices to customers.
The partnership aims to evolve the market's e-commerce landscape, enabling seamless shopping experiences, higher conversion rates, and helping to reduce fraud.
'By integrating Mastercard Gateway, we are not only offering a seamless and user-friendly solution but also empowering local merchants to stay ahead in the evolving payment landscape. This collaboration will drive regional growth by enhancing the checkout experience and introducing innovative payment options that cater to today's digital-savvy consumers,' said Sheikh Hamad bin Mohammed al-Thani, a board member at Sadad.
Mastercard Gateway is a single touchpoint that powers payment and digital acceptance solutions across new and existing markets and channels locally and globally. Merchants benefit from support for more than 30 payment methods, while customers enjoy advanced protection from cybercrime through tokenisation, biometric recognition and 3D Secure authentication.
As digital wallets and contactless payments become increasingly prevalent, equipping businesses with the right tools to meet evolving customer expectations is more critical than ever, according to Erdem Cakar, Country Manager, Qatar and Kuwait at Mastercard.
'This partnership with Sadad marks a significant milestone in our efforts to expand our reach and fuel growth for businesses. Through Mastercard Gateway, we are providing businesses with world-class payment solutions that deliver security, speed, and flexibility,' he said.
© Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. (Syndigate.info).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Fintech News ME
13 hours ago
- Fintech News ME
Mastercard, IFZA and Global Tax Assistant Launch AI-Powered SME Registration Pilot in UAE
Mastercard has partnered with IFZA, a UAE free zone, and international consulting firm Global Tax Assistant to introduce a fully digital, AI-driven business registration process in the country. The initiative aims to support the growth of SMEs and facilitate their expansion into Eastern Europe, the Middle East and Africa (EEMEA). SMEs account for over 94% of businesses in the UAE and contribute more than 50% of the nation's GDP. The UAE's National Agenda for Entrepreneurship and SMEs seeks to position the country among the top three nations in the Global Entrepreneurship Index by 2031. According to the partners, this project is one of the first AI-powered business registration pilots in the region, reflecting collaboration between the public and private sectors to support SME development through technology. 'The thriving SME economy forms the beating heart of the UAE's diverse business landscape. At IFZA, we believe SMEs are the prototype of tomorrow's global companies, driving innovation, job creation, exports and new business models,' said Jochen Knecht, Chief Executive of IFZA. 'We work together with our partners to equip the country's small business community with the tools and resources they need to succeed.' The process, from document submission to license issuance, will be managed through AI, with automation applied to form completion, document verification and communication workflows, aiming to reduce setup time and operational costs. Mastercard business card holders will be able to access discounted business setup services as part of the arrangement. 'Our collaboration with IFZA and Global Tax Assistant enhances the value we deliver to our business customers, while supporting the UAE's vision of a thriving digital economy,' said Onur Kursun, Executive Vice-President for Commercial and New Payment Flows, EEMEA, Mastercard. IFZA hosts startups from more than 160 countries and offers infrastructure, facilities and business regulations designed for entrepreneurs. Global Tax Assistant provides accounting, legal, auditing and tax consultancy services to clients in the UAE, Oman, Kuwait and Qatar.
Zawya
a day ago
- Zawya
Mastercard, IFZA and Global Tax Assistant launch AI-driven digital business registration process to accelerate SME growth in UAE
AI-driven onboarding reduces friction and costs associated with business setup and compliance Dubai, UAE: Mastercard has joined forces with IFZA, one of the fastest-growing free zones in the UAE, and Global Tax Assistant, an international consulting firm, to launch a fully digital, AI-driven business registration journey in the UAE. The collaboration aims to accelerate the growth of the country's small- and medium-sized enterprises (SMEs) and pave the way for their expansion across the Eastern Europe, Middle East and Africa (EEMEA) markets. SMEs account for over 94% of all businesses in the UAE and contribute to more than 50% of its GDP. The National Agenda for Entrepreneurship and SMEs seeks to establish the UAE as an entrepreneurial nation, and one of the top three countries in the Global Entrepreneurship Index by 2031. The collaboration marks one of the first digital AI-powered business registration pilots in the region, reflecting a unique public-private sector collaboration focused on SME enablement through advanced technology. 'The thriving SME economy forms the beating heart of the UAE's diverse business landscape. At IFZA, we believe SMEs are the prototype of tomorrow's global companies, driving innovation, job creation, exports and new business models. We work together with our partners to equip the country's small business community with the tools and resources they need to succeed. We are confident our latest joint initiative will boost the UAE's global competitiveness as a business hub with progressive infrastructure,' said Jochen Knecht, CEO, IFZA. The end-to-end onboarding process – from document submission to license issuance – is powered by AI, enabling faster, more efficient, processing. Automation across form completion, document verification and communication workflows help reduce setup time and operational overhead for entrepreneurs. As part of the collaboration, Mastercard business card cardholders will gain access to simplified and discounted business setup services, further reducing friction and costs for startups and small businesses in the UAE. 'Our collaboration with IFZA and Global Tax Assistant enhances the value we deliver to our business customers, while supporting the UAE's vision of a thriving digital economy. SMEs are vital to regional growth, and this initiative demonstrates our commitment to empowering small businesses through technology, partnerships and financial inclusion,' said Onur Kursun, executive vice president, Commercial and New Payment Flows, EEMEA, Mastercard. 'We are working to build a digital economy for everyone, everywhere. As of 2024, Mastercard has connected 960 million people and 65 million micro-, small, and medium sized enterprises to the digital economy,' he concluded. The collaboration is closely aligned with the UAE's broader digital transformation agenda and its commitment to strengthening the SME sector – two key pillars of the nation's economic diversification strategy. By digitizing key aspects of business formation and compliance, the collaboration contributes to national goals of fostering innovation, entrepreneurship and sustainable economic development. 'Global Tax Assistant is dedicated to helping small business owners unlock new opportunities. We are excited to enter the collaboration with Mastercard and IFZA that aims to contribute to building an enabling environment for entrepreneurship in the UAE by facilitating faster and simpler digital access to business setup. The new synergy enhances our role in providing seamless compliance and advisory services to small businesses in the country. We will also explore the potential usage of the underlying technology in banks' customer journey flows,' said Smbat Alikhanyan, CEO, Global Tax Assistant. Home to startups from over 160 countries, IFZA is one of the leading free zone communities in Dubai with world-class infrastructure, state-of-the-art facilities and business-friendly regulations. With more than 10 years of international expertise, Global Tax Assistant provides accounting, legal, financial auditing and tax consultancy services to over 350 clients in the UAE, Oman, Kuwait and Qatar. About Mastercard Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we're building a sustainable economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential. Mastercard communications contact:
Fintech News ME
4 days ago
- Fintech News ME
MDP Builds Advanced Processing Hub with BPC in the MEA Region
MDP, a longstanding player in Africa's card issuing and processing sector, is reinforcing its position across the Middle East and Africa (MEA) through a strategic collaboration with global payment solutions provider BPC. The partnership has resulted in the development of a next-generation third-party processing centre, built using BPC's SmartVista platform, aimed at delivering secure, scalable, and integrated payment services throughout the region. With this technology, MDP has established a modular stack that integrates issuing, acquiring, and processing services. This architecture enables the company to serve banks, fintechs, and merchants across the MEA region with increased flexibility. MDP's objective was to develop a processing hub capable of offering comprehensive services while accommodating the evolving needs of its clients. The rollout followed a phased go-live approach, with each SmartVista module activated in line with new client onboarding. This strategy allowed MDP to scale operations in parallel with market expansion. SmartVista's card management capabilities support the issuance of tailored debit, credit, and prepaid products for business clients. On the acquiring side, the platform facilitates acceptance of Visa, Mastercard, and EBC-branded cards across MDP's network. Fraud prevention and 3D Secure ACS are also incorporated into the service offering. Central to the setup is the SmartVista Integration Platform, which, through the use of advanced APIs, allows MDP to develop and manage its own API gateway in-house. This enhances client onboarding and responsiveness to market shifts, while maintaining system stability. Currently, MDP serves over 260 financial institutions in more than 40 countries, positioning it among the more established processors in the MEA region. Its focus on infrastructure, local talent, and product development has supported the launch of various payment solutions, from closed-loop card systems to open-loop services for emerging digital platforms. Commenting on the collaboration, Usama El Sayed, Managing Director MEA at BPC, said: 'We are proud to be the technology partner of MDP, helping the processor drive innovation and deliver payment experience through the MEA market. With SmartVista's advanced, modular design, MDP can launch, migrate, and innovate at speed, building an ecosystem from scratch and elevating digital payments across the region.' Ahmed Nafie, CEO of MDP, added: 'Through our collaboration with BPC and the SmartVista platform, we have redefined what it means to be a processor in today's market, delivering not just services, but scalable ecosystems that enable innovation and financial inclusion across the region. Our commitment to regional demands and financial growth remains at the heart of everything we do.'
