The user-initiated mobile payment solution is an alternative to cash payments for consumers and retailers alike, and is aimed to drive the shift towards a cashless society within the UAE.
The bank’s customers will now be able to link any of Mashreq credit or debit cards to the Masterpass QR feature in their Snapp app without the need to transfer funds to any other stored value account. Customers need to scan the QR code displayed at a merchant’s checkout via their mobile banking app and confirm the payment on their smartphone.
The partnership marks the launch of the UAE’s first QR code payment solution compliant with EMVCo QR standards that will make the solution interoperable with other Masterpass QR users globally. The feature will enable international visitors to pay with Masterpass QR at Mashreq Bank merchants, while allowing Mashreq Bank customers to make QR-based payments when traveling abroad.
For more information about Mastercard Payment Gateway Services, please check out a detailed profile of this company in our dedicated, industry-specific online company database.
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