Mashreq repositions NEOPAY as UAE digital payments continue to soar – ArabianBusiness
- Date: 04-Apr-2022
- Source: Arabian Business
- Sector:Technology
- Country:UAE
Mashreq repositions NEOPAY as UAE digital payments continue to soar – ArabianBusiness
Mashreq Bank has completed the transition of its existing payments business into a new, wholly owned subsidiary at a key time when digital payments are soaring.
The Dubai-based bank said IDFAA Payment Services will operate with the brand name NEOPAY and will leverage the latest technology including card processing and merchant acquiring systems, processing switches and point of sale inventory for merchants and consumers.
It said the move builds on Mashreq’s existing merchant acquiring business, which processes $22 billion of annual volume across the retail, government, hospitality and e-commerce sectors.
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