areeba, Wallet Factory partner for mobile payment service in the Middle East

Friday 17 May 2019 08:28 CET | News

areeba has signed an agreement with Wallet Factory, who will provide areeba with technology to enable mobile payment services in the Middle East.

This technology includes a platform for processing mobile payments and electronic money, a mobile app for users, and a merchant app. The collaboration is aimed to help customers to pay bills, goods and services, and transfer money. The merchant app will allow sellers to raise a bill and receive payments using a QR code.

The deployment of mobile financial services is scheduled for the end of 2019.

areeba is a ?nancial technology company that offers payment solutions for banks, merchants, governments, and individuals. The business is fully regulated and licensed as a financial institution by the Central Bank of Lebanon. It is a principal member of the Mastercard and Visa network, and has a strategic partnership with American Express.

Wallet Factory is a Mobile Financial Services Enabler (MFSE), which acts as a mediator between telecom operators and financial institutions (banks, payment service providers, insurance companies). The company provides planning, implementation, and management of mobile financial services.

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Keywords: areeba, Wallet Factory, mobile payments, Middle East, bank, PSP, merchant
Countries: World