Mashreq Bank, MasterCard and Swiff to launch Payport

Thursday 29 August 2013 14:42 CET | News

UAE-based financial institution Mashreq Bank, MasterCard and Canadian technology provider Swiff have entered a definitive agreement.

Under the terms of the agreement, Mashreq is set to launch ‘Mashreq Payport’, an EMV chip and PIN compliant mobile point-of-sale (mPOS) service.

‘Mashreq Payport’ enables customers to pay for delivery products at their doorstep by inserting their debit or credit card into the device. The delivery man enters the sale amount, the customers can choose whether to include a tip and then sign or enter their pin to complete the transaction. Before using the device, customers have to download the Mashreq Payport app onto their smartphone. The application is only available on Android and iPhone devices.

In recent news, MasterCard has appointed Raja Rajamannar as Chief Marketing Officer (CMO), effective September 2013.

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Keywords: Mashreq Bank, MasterCard, Swiff, Payport, EMV chip and PIN compliant mPOS service
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce