Dubai PR Network, Online Press Release from Dubai and Middle East
 
Banking & Insurance(Banking & Investments)
Filter PR by
  
UnionPay collaborates with Mashreq Bank to launch Quickpass in the UAE
 

Mashreq Bank will be the first bank in the Middle East to launch UnionPay’s contactless payment service. 

Dubai, UAE, 09 January 2016:  Global payment network UnionPay International and Mashreq Bank have announced a collaboration to bring QuickPass – UnionPay’s secure and efficient proprietary contactless payment service – to the United Arab Emirates for the first time. 

QuickPass enables consumers to pay for goods and services by tapping their QuickPass card at a Near Field Communication (NFC) point-of-sale (POS) terminal. The card uses technology to provide a secure method to make purchases via a credit or debit card without the need to enter a PIN number, vastly improving the speed of the transaction. 

Han Wang, General Manager at UnionPay international Middle East, said: “Our partnership with Mashreq Bank further demonstrates our commitment to expanding our operations in the Middle East. The UAE is a popular destination for Chinese visitors and as such, the demand for UnionPay products and services has increased.” 

Mashreq Bank operates one of the largest NFC POS terminal network in the Middle East region and UnionPay NFC cards have been issued both in and outside mainland China. All new UnionPay cards in the UAE are being issued with NFC technology.

“The roll out of QuickPass in the UAE not only offers an innovative and convenient payment service for Chinese residents, tourists and traders, but will also attract new customers across the region as we look to increase the circulation of UnionPay cards locally. Mashreq QuickPass is a significant milestone for us, and will only serve to accelerate our growth across the Middle East,” Mr Wang added.

UnionPay and Mashreq Bank have a longstanding relationship spanning almost 10 years, with Mashreq being one of the first banks in the region to accept UnionPay issued credit and debit cards through its ATM and POS network in 2007. 

Pankaj Kundra, Head of Payments, at Mashreq Bank commented: “As one of the largest issuers and acquirers in the country, Mashreq has been a pioneer in building the contactless ecosystem in the U.A.E through thousands of NFC enabled terminals as well as the UAE’s 1st and only NFC-sticker solution -  TAP n GO for customers. With NFC payments growing rapidly in the U.A.E, this first-in-the-region launch of QuickPass will add significant value to Mashreq’s merchants, Union Pay card holders in the U.A.E as well as cardholders who visit the UAE from across the globe. The launch of QuickPass is a re-affirmation of our strategic partnership with UnionPay and is the first of many innovative payment initiatives lined up for the rest of the year.”

With enabled card acceptance in 160 countries and regions and with issuance in more than 40 countries and regions, UnionPay International provides high quality, cost effective and secure cross-border payment services to a growing number of global cardholders and merchants. 

Posted by : Dubai PR Network Editorial Team
Viewed 4032 times
PR Category : Banking & Investments
Posted on : Monday, January 09, 2017  10:07:00 AM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Government of India Honours Dr. Seetharaman
Next Story : Hisham Wyne helps Mashreq Bank announce new vision and missi...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Elizabeth Arden: White Tea fragrance [14256-Views]
Elizabeth Arden: Eight Hour® Miracle Hydrating Mist [13652-Views]
Celebrate Life's Key Moments with Mouawad Jewelry [12987-Views]
Gucci Eyewear Spring/Summer 2017 [12767-Views]
IKEA Spreads Cheer on International Day of Happiness [10956-Views]
SAINT HONORE introduces the first watch made out of steel from the Eiffel Tower [9193-Views]
L'Occitane introduces Terre De Lumiere [8869-Views]
Bottega Verde Introduces The New Splendida Skin Care Line! [8448-Views]
Grand Optics Celebrates 20 Years in the Middle East [8448-Views]
TKD Lingerie: Top 5 lingerie trends from the past five years [7948-Views]
Malabar Gold & Diamonds receives ‘Best Jewellery Brand Award' from India Bullion and Jewel... [7826-Views]
Gourmand by Molton Brown [7686-Views]
Celebrate the start of the spring with Lexus Select Event [7680-Views]
QNET Celebrates World Water Day 2017 with HomePure [6991-Views]
Siemens to help develop Qataris' tech skills [6960-Views]
INSIGHT a natural inspiration, essential choice and passion for hair [6893-Views]
Versace Fall/Winter 2016-2017 Collection Preview [6777-Views]
Reebok Les Mills™ invites you to witness a live workout demonstration at Stadium, Yas Mall [6740-Views]
Taste the best of the world at Lulu Hypermarket World Food Expo 2017 [6704-Views]
Massimo Dutti Spring/Summer'17 Campaign – Summer Echoes [6564-Views]
New spa experience offers visitors to Beautyworld Middle East 2017 a memorable voyage of f... [6490-Views]
The Big Clearance Sale is Back! [6033-Views]
Malabar Gold & Diamonds' launched its 172nd showroom in Ballari, Karnataka, India [5966-Views]
Dubai Chamber concludes high-level trade mission to India [5832-Views]
Molton Brown Launches the Spring Collection Dewy Lily of the Valley & Star Anise London vi... [5758-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories