GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >>

 
  Share

Payment solutions provider's new services will operate out of a new Data Center in UAE

Dubai, United Arab Emirates (May 12, 2015): Mint, a vertically integrated electronic payment solutions provider and a leading payroll card service provider based in the UAE, announced its strategic alliance with Abu Dhabi Islamic Bank (ADIB) on the sidelines of the Card & Payments Middle East Exhibition 2015, for the second consecutive time. Being one of the largest local banks in the UAE, ADIB's extensive network of 70 branches and 700 ATMs is expected to boost Mint's reach in the country to acquire customers in all the emirates.

With a vision to enhance customer value proposition and market reach in the region, the alliance, which deals with services such as BIN Sponsorship, Remittance & Micro-finance, comes at an opportune time to lead streamline payment mechanisms in the country.

Lending his confidence to the relationship, Mr. Abdul Razzak Al Abdullah, Chairman of Mint said, “Forging this partnership with ADIB comes at the back of UAE's smart government initiatives. As Dubai and the other emirates have risen exponentially in commercial importance, we wish to bring our core-competencies in supporting a modernized, cash-less environment for the country's economy to thrive in.”

Mint's effort to ramp up services and achieve synergy with its strategic partners will be fostered by its recently established state-of-the-art technology platform, built in a fully ‘Payment Card Industry Data Security Standard (PCI DSS)' compliant Date Centre in the UAE.

The emerging portfolio from the partnership includes open-loop cards, a product that is set to achieve maximum value proposition for Mint's newly branded payroll card.

Targeting the burgeoning migrant population in the UAE with modest income levels, Mint and ADIB will also launch a micro-financing solutions, in addition to partnering with Arab Link Money Transfer (ALMT). A subsidiary of ADIB, ALMT will provide Mint wider access to large remittance networks such as Western Union and Xpress Money.

The newly built infrastructure and its expertise in cost-effective payment solutions positions Mint uniquely in a market rife with competitors charging a premium for the same services. Speaking on Mint's competitive edge, Mr. Abdul Razzak al Abdullah illustrated, “As a third party processor, Mint will have the opportunity to operate a principal member network with other member associations. This leverage allows us to offer issuing and acquiring services to the financial institutions in an efficient manner.”

Mint's association with its partner banks has exhibited positive results. Mint boasts a customer base of over 400,000 card holders and processes a volume of around AED 400 million.

The progress is sustained by a prudent design of its customer reach and engagement channels, which includes a mix of online payment portal, mobile payments, point of sale units covering 10,000 locations, and 2,000 cashless self-service kiosks. With the new partnership, Mint seeks to stretch the envelope in securing key benefits for its stakeholders, such as a secure and seamless engagement with consumers and automating the process of collection and reconciliation.

In lieu with digitization of financial processes, Mint also guarantees minimal human errors and eliminates risks and costs involved in handling cash conventionally.


Posted by : GoDubai Editorial Team
Viewed 15043 times
Posted on : Wednesday, May 13, 2015  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : Riyadh Institute of Finance (RIF) appointed by CISI as its official training partner in Saudi Arabia
Next Story : Doha Bank wins ‘Environmental Award' at Arab Organization for Social Responsibility Awards 2015
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
BIODERMA Hydrabio Serum and Sensibio Gel moussant
Kate Winslet launches the exclusive Flagship Heritage by Kate Winslet timepiece ...
Joyalukkas announces ¼ Kilo Gold Winner of the ongoing ‘Joyalukkas Shop & Win Up...
Malabar Gold & Diamonds announced its Summer offers – Win up to 75 Gold Bars
Paris Gallery's Eid Gift Guide: The Fragrance Edit
Joyalukkas conducts 75th Blood Donation Camp
Montblanc: The perfect gift guide
Jewel Corner Launches A Brand New Kiosk In The UAE
SALLY HANSEN Nail Trend Report FREE FORM & NEGATIVE SPACE
Ulysse Nardin - Classic Dual Time Enamel
Louis Moinet - Stardance brings down the stars for Eid Al Fitr
The Admiral sets sail on an ocean of colours
CITIZEN L… Ideal for the Stylish Woman this Eid
RAYMOND WEIL Shine Etoile makes a stunning Eid gift
Citizen Presents Three Stunning New Models for Father's Day
Joyalukkas presents ¼ Kilo Gold to the Winner of the ongoing ‘Joyalukkas Shop & ...
Celebrate Father's Day in 'Swiss Style' with RAYMOND WEIL
Happy Father's Day with Ulysse Nardin Executive Skeleton Tourbillon
Skyline University College Iftar Dinner and Cricket Match for 200 Sharjah Laborers
SAINT HONORE Opéra is Ideal for the Stylish Woman
Joyalukkas Win Upto 60 KG gold promotion Lucky winner announced in the UAE
SAINT HONORE Charisma Twist
Paris Gallery Eid Gift Guide: The Watch Edit
Cook Smart with LG this season
First SUC Regional Workshop on Open Source in Technologies for Libraries
Eid Gifting with Accessorize
Loyyal Closes Series A Capital Raise
Ourshopee Now Has Delivery Across Oman
LG G6: The Ideal Summer Vacation Companion
Spring/Summer '17 FENTY PUMA by Rihanna - FENTY Trainer
Chatmise, Weekend Max Mara's Cat-Fancy Capsule Collection for Fall/Winter 2017
All-New 2017 Lincoln Continental Rides to Success in the UAE
Sadia Reminds Families to Cook Less and Waste Less this Ramadan
Purificación García's Must Have Item: The Origami Bag
Skyline University College Conducted Health and Wellness Program
Zadig & Voltaire - Girls Can Do Anything
Majid Al Futtaim Fashion Announces New Franchise Partnership with Interiors Bran...
Aster DM Healthcare Unveils Global Volunteers Programme to mark its 30th Year An...
Summer Fun - Monsoon Children
The sleek looking Honor 8 Lite launches a new blue colour in the Middle East
TAG Heuer Luxury Kit
Dsquared2 Men's and Women's Fall Winter 2017 Show
TIME banks on Al Shabab for Ramadan food donation
TKD Lingerie: Essential lingerie ‘Super Staples' for summer holidays
16 nights of shopping and fun will begin at Expo Centre Sharjah
Marion Cotillard wears Chloé to 31st Cabourg Film Festival
57 Young People of Determination Became du Volunteers to Mark
Polanc to Lead UAE Team Emirates at Tour of Slovenia
KeyBS e-Voucher solution ‘KeyEVD' goes live on thousands of 4Run Telecom POS mac...
OMEN by HP Delivers the Ultimate Advantage for Gamers to Dominate the Competition