MOBIbucks joins MEPS to offer mobile payments in Levant region
Middle East Payment Services (MEPS) and MOBIbucks announced they are partnering on the first cardless and cashless payment service in the Levant region of the Middle East. MEPS, a consortium of seven Arab Banks, provides payment processing services across the Middle East. MOBIbucks is a provider of mobile payments technology headquartered in Louisville, Ky.
"The emerging needs for payments in the digital economy demand new payment tools," said MEPS CEO Dr. Abdul Malik Jaber. "MOBIbucks is such a tool. MOBIbucks is a unique system with a wide variety of functionalities that will be used by consumers for such things as frequent low-value purchases, person-to-person (P2P) payments and money transfers. It will facilitate their transactions and make their lives easier."
Ziad Alshobaki, MOBIbucks' managing director of MENA operation, said MOBIbucks was delighted to offer its solutions that enable consumers to make everyday purchases using just a cell phone number, without the need for cash, card or even the mobile phone to be in the user's possession.
According to the MEPS and MOBIbucks announcement, the companies will be offering the service to other parts of the Middle East soon.