MOBIbucks launches in Levant
MEPS signs deal to offer MOBIbucks mobile payment solutions to Levant customers
Mobile payment solution company MOBIbucks is launching its cardless/cashless payment service in the Levant region.
MOBIbucks has signed a deal with Middle East Payment Services (MEPS), a consortium of seven Arab Banks providing payment processing services in the Middle East, to bring the MOBIbucks solution to consumers in the region.
MOBIbucks alloes customers to make purchases using just their cell phone number, without the need for a card, cash, or event the mobile phone to be present. MEPS plans to make the MOBIbucks solution available to banks in the region, along with businesses such as restaurants, fast food outlets and coffee shops.
The deal covers Jordan, Palestine, Iraq and Lebanon.
"MEPS is leading the way in the development of the payments landscape in Jordan," said Dr. Abdul Malik Jaber, CEO of Middle East Payment Services. "The emerging needs for payments in the digital economy demand new payment tools. MOBIbucks is such a tool. MOBIbucks is a unique system with a wide variety of functionalities that will be used by consumers for such things as frequent low-value purchases, person-to-person (P2P) payments and money transfers. It will facilitate their transactions and make their lives easier."
"Jordan in particular and the Levant region in general is a fast-growing digital economy. It boasts a mobile phone penetration rate exceeding 100%. These factors make mobile payments a natural fit," said Ziad Alshobaki, manging director of MOBIbucks MENA operations. "We are proud to partner with MEPS, one of the pivotal institutions in the Levant, to deliver a contemporary mobile payment platform that meets the needs of today's - and tomorrow's -- consumer."
MOBIbucks also plans to make the service available in other countries in the Middle East in due course, Alshobaki added.
"Jordan is a key market for us in the Middle East," said Jorge Fernandes, CEO of MOBIbucks. "With this initiative, Middle East Payment Services is laying the foundation to empower consumers in Jordan with the most innovative and contemporary method for doing payment transactions."