NEOPAY To Expand Digital Footprint By Partnering with Alipay
In an important step toward transforming digital payment experiences, NEOPAY, Mashreq's payment subsidiary and one of the UAE's pioneering merchant acquirers, became the first acquirer in the UAE to launch Alipay+ transformative cross-border digital payment and marketing solutions to merchants on their POS devices.
The initial connection is active at over 2,000 retail locations across the UAE, including shopping malls, luxury stores, supermarkets, and restaurants, to improve the entire payment experience for international visitors. For all merchants, the present solution will be updated to Alipay plus frictionless from the backend. NEOPAY will further rollout Alipay+ solution at all other merchants throughout the year.
Vibhor Mundhada, CEO of NEOPAY, commented, "NEOPAY, with its technological acumen powered by Mashreq, has consistently led the digital payments revolution. Our strategic partnership with Alipay+ augments this trajectory, enabling our merchants to seamlessly integrate multiple Asian wallets, streamlining the payment process. This partnership not only highlights Mashreq and NEOPAY's relentless drive towards a digitized economic landscape but also cements our reputation as one of the early adopters of this transformative payment solution. The synergy with Alipay+ propels our growth, expanding our reach in the burgeoning mobile payment ecosystem."
Alipay+, with its astounding reach to over 1.4 billion global consumers behind more than 20 mobile wallets and banking apps including Alipay (Chinese mainland), MPay (Macao SAR China), TrueMoney from Thailand, GCash from the Philippines, Kakao Pay from South Korea and Tinaba from Italy, augments the digital payment spectrum in the UAE, as per zawya.
The Middle East's tourist sector has had the strongest recovery in the globe. Tourist arrivals increased by 15% in the first quarter of 2019 compared to the same time in 2018.