Oasis in payment solutions desert
Saudi Arabia’s financial services industry is to be the target of a strategic alliance between Logica and Oasis Technology as they come together to offer end-to-end payment capabilities.
Saudi Arabia’s financial services industry is to be the target of a strategic alliance between Logica and Oasis Technology as they come together to offer end-to-end payment capabilities. Under the terms of the partnership, Logica will undertake sales, marketing, and distribution functions, as well as customer support, for Oasis Technology's payment processing products.
In addition to the financial services industry, the partnership will target the Kingdom’s acquirer and issuer banks, brick-and-mortar as well as Internet merchants, merchant service providers, payment gateways and national payment processors.
“Several factors make this the ideal time for Logica and Oasis Technology to jointly penetrate the payment solutions market in Saudi Arabia. The increase of credit card usage, the emergence of e-commerce, the development of online banking, and the introduction of direct debit payments in the Kingdom demonstrate that the country’s financial services providers need proven payment solutions, as well as the expertise necessary to implement and support those solutions,” says Derek Kemp, CEO for the Middle East, Logica.
Among the Oasis solutions that Logica will offer in Saudi Arabia are the Oasis IST range, which includes solutions for building in-house payment engines, issuing real and virtual credit and loyalty cards, creating online payment infrastructures, and multi-currency solutions for monitoring and tracking real-world and virtual merchant revenues.
“Saudi Arabia is a vital new market for Oasis as we expand our Middle East presence. In order for Oasis to maximize our market reach in the Kingdom, we required a partner with proven experience both in the financial services industry as well as in the country, both of which we found in Logica,” says Bruno Paoli, general manager EMEA, Oasis Technology.