MasterCard, a leading global digital payments company, has announced its collaboration with QNB Group, the largest financial institution in the Middle East and Africa, to launch myPOS in Qatar, a new service that allows micro and small businesses to accept payments for their cash. Services and products through smart phones. Powered by MasterCard, the service is a simple, convenient and cost-effective digital payment technology that helps meet the needs of small merchants by turning their existing smart devices into payment acceptance devices. This step represents an important milestone in the partnership between QNB and MasterCard, and reflects the group’s vision to develop innovative, convenient and affordable solutions that provide multi-channel ways to pay payments.
The myPOS mobile payment acceptance service transforms Android smartphones into secure devices for accepting payments from contactless cards, mobile wallets and smart watches, without the need for any additional costly supplies or settings, and companies only have to download the mobile application and provide the service to their customers directly, so that consumers can enjoy a smooth, secure and simple payment experience.
“SMEs account for more than 95% of the total of 25,000 registered private sector companies in Qatar, and multi-channel solutions such as the mobile payment acceptance service can open up many opportunities,” said Erdem Shakar, Country Manager for Qatar and Kuwait at MasterCard. For small businesses, enabling them to enter and benefit from the digital economy. We are proud to launch this product with QNB, as part of our commitment to include 50 million small, medium and micro companies from around the world into the digital economy by 2025.”
Mr. Adel Ali Al-Malki, Senior Vice President – Retail Banking, QNB Group, said: “QNB is one of the largest financial institutions in the Middle East and Africa, and we are keen to provide merchants with innovative solutions that expand their payment acceptance options. We are pleased to strengthen our partnership with MasterCard by launching the myPOS mobile payment acceptance service to provide more opportunities for small businesses.”
