Wednesday, September 23, 2020

Zain signs MoU with Mastercard to boost digital payment services

Zain has signed a strategic partnership agreement with Mastercard, a leading technology company in the global payments industry, to boost digital payment services in Jordan through ‘Zain Cash’ mobile wallet service powered by Mastercard.

Aimed at extending the benefits of the Zain Cash service to Zain’s growing subscriber base and enriching their experiences, the announcement was made on the sidelines of the World Economic Forum on the Middle East and North Africa, held recently in Jordan.

The MoU was signed by Ahmad Al Hanandeh, CEO of Zain and Timothy Murphy, General Counsel and Chief Franchise Officer, Mastercard, in the presence of Dr. Ziad Fariz, Governor of the Central Bank of Jordan.

Under the license granted by the Central Bank of Jordan, Zain has been approved to issue Mastercard prepaid cards linked to the Zain Cash mobile wallet to provide subscribers with the advantage of obtaining and utilizing the card locally and globally through a network of more than 50 million Points of Sale, where Mastercard cards are accepted, as well as the possibility of shopping online and using it on the ATM network.

Commenting on the signing, Mr. Al Hanandeh said: “We are very pleased to sign this strategic partnership with a leading technology company such as Mastercard, as we continue to deliver the latest and world-class services to our subscribers and provide features that make it easier for them to complete their daily transactions. This partnership is part of our efforts to boost the electronic payments system in Jordan, and expand the Zain Cash services to enrich the subscriber experience and provide them with an unprecedented, easy and secure way to pay by mobile in the Kingdom.”

Mr. Al Hanandeh added: “We want Zain Cash to be a complete service, as its launch reflects our commitment to providing all advanced ICT solutions to our subscribers. Our customers have always been at the forefront of the most advanced technologies in the world, so our strategic partnership with Mastercard will contribute to the goal behind Zain Cash and to provide e-payment solutions to all citizens.”

Basel Eltell, General Manager, Saudi Arabia and Levant Cluster, Mastercard, said: “Our collaboration with Zain is an important strategic step aimed at enhancing the e-payment sector in the Kingdom. Mastercard recognizes the need to create secure solutions that meet the growing expectations of customers and drive the wider adoption of e-payments. We are pleased to sign this agreement with a prominent company such as Zain, which comes as part of our relentless efforts to deliver innovative financial solutions for mobile payments while also reflecting our vision of paving the way for all segments of the society to have access to financial services.”

Zain Cash offers all local mobile network subscribers a convenient and secure way to to make payment transactions and process monthly payments by saying their time and efforts. The re-launch of Zain Cash comes as part of the company’s partnership with the Central Bank of Jordan, through the national link “JoMoPay” that was launched and is being operated by the Central Bank of Jordan.

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