RAKBANK brings on Etisalat for its merchant acquiring business
As managed service partner, Etisalat will provide the bank with last-mile Point of Sale (PoS) operations
RAKBANK recently inked a Memorandum of Understanding (MoU) with Etisalat for the delivery of Managed Point of Sales Services.
Serving as the bank's outsourced and managed service partner, the UAE-based telecommunications services provider is expected to deliver Point of Sale (PoS) operations.
Salvador Anglada, CBO, Etisalat said: "Today's announcement will be a unique approach for the UAE banking industry and will set a benchmark in the telecom industry. Etisalat will work closely with RAKBANK during this implementation phase of its merchant acquiring business to make sure that critical Point of Sale operations and service deliveries are efficiently managed meeting the long term objective of the bank to become a leading and innovative payment solution and services provider in the UAE."
Commenting on the signing of the MoU, Peter England, RAKBANK CEO, said: "We are delighted to be working with Etisalat on this partnership, one which capitalises on the core strengths that both parties bring to the table. We are always looking to bring our valued customers more flexibility, convenience and choice.
He added: "Our strategic partnership with Etisalat gives us the opportunity to support our SME and corporate customers and the wider UAE merchant community by offering them cost effective payment acceptance solutions coupled with superior service delivery.
"A unique and first-of-its-kind partnership like this will also allow RAKBANK to focus on its aggressive acquisition, relationship management and product development activities to bring innovative and customer friendly payment solutions to the UAE market with an aim to make payments simpler and safer."