Bahrain’s IPS obtains Mastercard issuing license

Bahrain’s IPS obtains Mastercard issuing license

Ebrahim Janahi This new customer license for IPS as an issuer and acquirer will provide the market with new cutting edge processing solutions that will enable IPS to sponsor banks and financial institutions as affiliates, and open the door to issue multi-currency prepaid cards in the future. It will also enable fintechs and new market players to contribute to the financial sector and its development across the wider Middle East and Africa region. "As a multi-rail company, we are working to provide our partners with superior technology solutions to drive greater financial inclusion for communities. We are continuously working to provide fintechs with innovative payment solutions that are at the core of how we reshape our strategy to lead the digital transformation in the Kingdom, the region, and globally. Our collaboration with IPS endeavours to bring our innovative technologies to more players in the market,“ said JK Khalil, Country Manager, Saudi Arabia, Bahrain & Levant, Mastercard. IPS is a third-party payment processor and payment service provider established in 2017, and headquartered in Manama, Bahrain, regulated and licensed by the Central Bank of Bahrain (CBB). It offers innovative and ingenious IT payment solutions to its clients, introduces fresh and revolutionary payment