Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

MasterCard plans processing centre in Dubai soon  Join our daily free Newsletter

MENAFN - Khaleej Times - 15/05/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) The new service is to be equipped with fraud-fighting tools and data mining capabilities that help capture portfolio and cardholder insights.

mastercard a technology leader in the global payments industry plans to set up in dubai its first processing centre outside the us in the last quarter of 2014.

the processing centre also the very first of its kind in the region will be a one-stop-shop for debit and prepaid processing fraud risk services atm processing customer care and reporting/analytics.

“the mastercard processing centre is a continuation of our global strategy to expand the company’s processing presence in high growth markets bringing solutions closer to customers” said cathy mccaul president of mastercard global processing.

the multi-million facility that will significantly boost mastercard’s operations in the region in terms of workforce and investment is expected to be catalyst for innovation in the payments industry and is in line with dubai’s smart city initiative mccaul told khaleej times on the sidelines of cards and payments middle east show at the dubai international convention and exhibition centre.

smart city project envisages transforming dubai into a city where government services will be easily accessible quick and efficient using smart devices.

on selecting dubai as the location for the facility mccaul said the establishment of the centre in the uae complements mastercard’s global processing strategy that is focused on driving domestic relevance in emerging markets. “the middle east and africa is one of our fastest growing emerging markets in the world and we are committed to continuously invest in bringing our global capabilities to this region.”

the new service called mastercard processing is to be equipped with sophisticated fraud-fighting tools and data mining capabilities that help capture portfolio and cardholder insights. it will also help financial institutions respond rapidly to changing consumer needs drive adoption of innovative technology and increase efficiency said mccaul.

“by harnessing our global expertise and using that to address specific market needs we will have the ability to provide customers with integrated issuer and acquirer processing services using a state-of-the-art platform. there is a particular need for this in emerging markets where the rapid change in products and the growth in electronic payments challenge the capacity security and capability of existing systems” she said.

raghu malhotra division president middle east and north africa mastercard said the new facility would be built as an integrated solution with the most advanced software so it will not have constraints sometimes found in legacy systems. “this will ensure a seamless transition to next generation payment solutions like ‘masterpass.’ eventually it will also help integrate additional value-added services around multi-channel platforms including e-commerce and m-commerce.”

malhotra pointed out that besides allowing its customers to swiftly develop innovative payment solutions the center would also deliver richer behavioral insights through comprehensive cardholder intelligence allowing banks to develop offers based on consumer spending patterns.

designed to be a one-stop-shop for financial institutions governments and telecommunication companies for all their payment processing requirements the service will combine best-in-class processing platforms for credit debit and prepaid processing along with advanced value-added-services around fraud analytics and loyalty brought by operations owned and operated by mastercard malhotra explained.

currently mastercard provides issuer and/or acquirer processing services in more than 24 countries globally. the company’s focus on customer service and operational excellence has allowed mastercard to partner with leading issuers to bring new safer and simpler payments products to consumers and to make it easier for issuers to focus on their core business by outsourcing their technology and operations.

he said mastercard processing would ensure partners are well positioned to respond to evolving demands and allow them to offer the most advanced products and services. the centre will also help will eliminate inefficiencies that result from using disparate processing platforms by linking an easy-to-use single connection to a comprehensive globally connected infrastructure.

“financial institutions in emerging markets usually face constraints that hinder the investment in and adoption of technologically-advanced solutions.

— issacjohn?khaleejtimes.com


 






  MENA News Headlines
 Aug 23 2014 - Unlimited Vacation Club Introduces The Lifestyle CollectionMENAFN Press
(MENAFN Press) A new vacation membership program has been unveiled by the rapidly expanding Unlimited Vacation Club.Unlimited Vacation Club by AMResorts (UVC) is proud to announce the Lifestyle ...

 Aug 23 2014 - TripAdvisor Ranks Grand Residences Number One In Riviera MayaMENAFN Press
(MENAFN Press) Grand Residences Riviera Cancun a Leading Hotel of the World is the newest addition to the Royal Resorts portfolio and has already hit the number 1 spot on TripAdvisor.com for hotels ...

 Aug 22 2014 - Mmashop.dk Offers the Best Collection of MMA Equipment OnlineMENAFN Press
(MENAFN Press) Over the past couple of years more and more people have become rather interested in Mixed Martial Arts. The MMA industry can be seen to be growing through every passing day simply ...

 Aug 22 2014 - Mixing It Up Cory Brim Is Bringing First Class Mobile Bar Service To Events Across The DC Metro AreaMENAFN Press
(MENAFN Press) Cory Brim of Sugar Rim Bar is revolutionizing event bar service in the DC Metro with his entirely mobile bartending service. A big hit Sugar Rim Bar is increasingly sought after in ...

 Aug 22 2014 - Teacher Uses Mixed Media Art Journaling to Improve the Lives of OthersMENAFN Press
(MENAFN Press) Mixed media art journaling is a beautiful art form that combines paint sketches stamps collage traditional journaling natural elements and photography. This latest form of ...

 Aug 22 2014 - Al Ghalbi International Engineering and Contractingcelebrates 15 years of service in oil and gas sectorMuscat Daily
(MENAFN - Muscat Daily) Al Ghalbi Engineering & Contracting one of the local companies that operate at the concession areas celebrated 15 years of excellent services in the oil and gas ...

 Aug 22 2014 - OVitaminPro.com Announces Release of BetterGenixMENAFN Press
(MENAFN Press) BetterGenix is the newly launched in-house line of nutritional supplements from OVitaminPro.comOVitaminPro.com a longtime e-retailer of natural and holistic supplements has recently ...

 Aug 22 2014 - Digital Publishing Tech Company ePaperflip Announces New Page Sliding Arrow Feature and Upgraded HTML5 Flip Book TechnologyMENAFN Press
(MENAFN Press) ePaperFlip allows you to convert your PDFs into an interactive enjoyable digital flipbook in minutes. With ePaperFlip you can easily create stunning digital magazines catalogs ...

 Aug 22 2014 - Own a Piece of History B.B. Brooks Ranch in Wyoming for SaleMENAFN Press
(MENAFN Press) The B.B. Brooks Ranch is comprised of over 40000 lush acres in the nation's most spectacular state. This ranch is an amazing sight. The splendor and the beauty are untouched as the ...

 Aug 22 2014 - The Diabetes Protocol ReviewDoes Dr. Kenneth Pullmans Program WorkMENAFN Press
(MENAFN Press) Read Dr. Kenneth Pullman's Diabetes Protocol review and find out if it really treats diabetes and promotes a healthier lifestyle. A 100% natural treatment With no use of drugs and ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help