Digitalising the payment ecosystem

ACN reaches out to participants of the recent Cards & Payments exhibition for insight into how the payment and banking service market is evolving

Tags: Advantech (www.advantech.ae/)NCR CorporationOMA Emirates (www.omaemirates.com)United Arab Emirates
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Digitalising the payment ecosystem The 2016 edition of Cards & Payments drew impressive numbers with over 10,000 attendees, 500 delegates and 300 exhibitors in attendance.
By  Alexander Sophoclis Pieri Published  July 10, 2016

One of the many firms present and exhibiting at Cards & Payments Middle East was OMA Emirates, a payment technology provider that specialises in card personalisation and payment issuance. The company is active across a number of sectors, such as banking, oil and gas, government and retail.

Niranj Sangal, group CEO at OMA Emirates Group, highlighted the increasing popularity of mobile payments and near field communications (NFC). He added that the ease of payments and the creation of engaging shopping experiences will continue to drive the industry for in-store and online payments. Despite the positives however, challenges remain aplenty.

“Some of the greatest challenges being faced are the lack of acceptance of incorporating advanced technology in the payment industry and additionally, data security is a major concern for both financial institutions as well as the account holder,” explains Sangal.

At Cards & Payments Middle East, OMA Emirates showcased a number of its latest offerings, which included its Benefits Beyond scheme, a business-to-business-to-consumer loyalty programme. As part of the scheme, retailers will be able to enrol in a co-branded loyalty programme that grants them access to both customer and supply chain data.

Benefits Beyond enables customers to use their cards across multiple outlets and redeem points, which is also not restricted within the same store or chain of stores.

Additionally, the company took the opportunity to unveil its OMA Retail Suite, an intranet management portal that serves as a fully automated ERP and highly scalable platform. The platform is designed to serve as the foundation for a network for both retailers and consumers, who can benefit from a reliable and inexpensive loyalty programme.

“Technology plays a major role in the daily lives of consumers and keeps them connected to multiple channels and helps them in their price driven and educated purchase decisions,” comments Sangal.

“It not only gives consumers a wider choice, but also allows them the option for easy electronic payments,” he adds.

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