Network International has in partnership with the Mastercard launched the Tap on Phone technology to enhance digital payments. The new technology is expected to benefit an estimated 500,000 new merchants across the Middle East and Africa. The partnership marks a new milestone between Mastercard, a technology leader in the payments industry, and Network International, a leading enabler of digital commerce.
Tap on Phone powered by Mastercard Payment Gateway Services (MPGS) gives SMEs the ability to accept payments through a smartphone. Customers simply need to tap their card or device to make the payment on the SME merchant’s phone, with each transaction processed through MPGS. In an omni-channel environment where consumers increasingly want more choice to pay the way they want to, Tap on Phone is an innovative, affordable, convenient, and welcome addition to the payment ecosystem.
The two companies have a long-standing partnership, bringing together Mastercard’s global expertise in payments and technology and Network International’s renowned digital payments capabilities. In 2019, Mastercard made a strategic investment as a cornerstone investor in Network International. This was followed by an additional commitment over a 5 year period towards developing innovative payment solutions for consumers to accelerate the adoption of cashless payments in the region and propel a cashless global financial system.
Speaking on the partnership with Network International, Gaurang Shah, Senior Vice President, Head of Products at EEMEA Mastercard said, “Small businesses are crucial for systemic economic recovery, and by connecting more SMEs to digital commerce tools and affordable payment acceptance solutions, we are putting in place a strong foundation that can facilitate sustainable growth. Mastercard is dedicated to empowering every business with the technology and solutions they need to thrive.”
“As a leading enabler of commerce, we remain committed to connect SMEs, the backbone of any economy, with innovative solutions that will drive wider acceptance across the region. We are proud to partner with Mastercard to grow the opportunities for entrepreneurs through the launch of Tap on Phone,” said Andrew Key, Group Managing Director – Acquiring, Network International.