MasterCard, PAYFORT collaborate for secure payment solutions
The agreement aims to ensure consumers in the region enjoy enhanced security when shopping online
MasterCard and online payment service provider in the Arab world, PAYFORT, have announced a strategic collaboration to introduce e-commerce and mobile payment solutions in the Middle East.
The idea is to build on helping businesses create better online purchase experiences for their customers, where they can enjoy enhanced security when shopping online. E-commerce merchants using PAYFORT's online payment solution will add another layer of security, in collaboration with MasterCard's fraud screening solutions.
PAYFORT customers in the UAE will also benefit from MasterCard's digital wallet solution, ‘MasterPass', which delivers a secure shopping experience with an easier checkout process by storing a consumer's payment, billing, and shipping information.
Khalid Elgibali, Division President, Middle East and North Africa, MasterCard, said: "The online business industry in the Middle East and North Africa region is expected to reach $69bn by 2020, according to PAYFORT State of Payments 2016. With this tremendous growth comes a greater need to make e-commerce transactions simpler, more secure and seamless for both merchants and consumers.
"Our collaboration with PAYFORT will help create a sophisticated and safe online payments environment, increasing the confidence of all stakeholders involved in an e-commerce transaction through our cashless solutions."
"We are pleased to partner with MasterCard and allow PAYFORT merchants to quickly and easily integrate breakthrough security solutions into their payment processes, helping them to increase credit card acceptance both online and offline," said Omar Soudodi, Managing Director, PAYFORT. "The addition of MasterCard solutions on top of PAYFORT's secure payment platform offers online shoppers in the Arab world the convenience of one-click payments, while assuring them of safe and secure transactions."
"Enterprise customers using The FORT, PAYFORT's next generation payment gateway, can add MasterPass to their online checkout options easily," concluded Soudodi.