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 18404 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
The World of Aigner Wunderkammer
BodyO launches officially its AiPod for a full body check-up during the Gitex Fu...
Manero Peripheral (43 Mm) Classic Watchmaking Meets State of,the Art Technology
Fifi & Friends - Now available at more outlets across the UAE
BOLLYWOOD PARKS™ Dubai introduces 11 new shows with a new line up of performance...
Halloween “Catwoman” mask using BROW products
Corum Heritage Eleganza- Dedicated to the stylish woman
Win up to 250,000 Gold coins at Malabar Gold & Diamonds this festive season
With more collections and a more spacious car parking, Kalyan Silks moves to El...
Dubai Shopping Festival Returns With Much-awaited Mega Raffles
Joyalukkas Celebrates the Festival of Light with Irresistible Offers
Dubai's newest social hub - Bar Baar introduces ‘Thela Baar Brunch'
Hour Choice presents Coach Park Collection (Suede straps)
Michael Kors to Introduce a Special-edition Whitney Handbag for the Middle East
Introducing the Nokia 7.1 to the UAE
Saddle Up With kate spade Fall 2018
W Motors and Safe City Group introduce the BEAST PATROL at GITEX: One of the mo...
Sharjah Government pavilion highlights digital transformation of Sharjah at GITE...
Be Thankful with Tub of Butter This Thanksgiving
Scuderia Ferrari Aspire Watch Special Edition Gift Set
CITIZEN Unveils 100th Anniversary Limited Edition Collection
Sunglasses Trends for Fall/Winter 2018
Rado DiaMaster Ceramos Automatic
Toyota's legendary King goes urban with the 2019 Land Cruiser Grand Touring Edition
Sharjah Girl Guides Unleash their Power on International Day of the Girl Child
Nissan to Make Official On-track Formula E Debut
Western Digital powers AI-enabled storage for futuristic surveillance and security
Provacuno - Spain's largest Inter-professional Association introduces Spanish Be...
Dubai Festival City Run 2018 to take place on November 9th
Healthcare leaders sign in Dubai a Call for Action to raise awareness about ‘sil...
Epson Introduces the New A3 and A4 business inkjet aimed at busy workgroups duri...
Daikin eyes significant expansion of business in the UAE
HUGO BOSS Watches Jump Collection
Dubai's Jehad Medical Clinic bags JCI for the third time
Synx, Pand.ai, and AIMLedge named winners of startAD's Artificial Intelligence V...
Avivo's Ribbon of Life Walk in support of Breast Cancer on 19th October
Tissot Bella Ora Round Style incarnate
Dubai Business Women Council witnesses 36.5% growth in total membership since th...
Ministry of Human Resources and Emiratization (MOHRE) Honors Union Coop for its ...
L'oréal Among the Top 10 of Thomson Reuters Diversity & Inclusion Index
Jeddah Airport delegation applauds Dubai Customs' experience in facilitating tra...
Swiss Chemicals & Building Material Giant “Sika” Expands Operations in UAE with ...
400 UAE residents come together on World Arthritis Day
Neymar Jr. Partners With GaGà Milano as Brand Ambassador
Dubai Health Authority showcases its smart services at GITEX 2018.
Roda Al Bustan and Roda Amwaj Suites acclaimed as regional leaders in hospitality
Majid Al Futtaim Celebrates the Grand Opening of Aloft City Centre Deira
FBN Next Generation Lombard Odier Award 2018 champions the next generation of en...
Nawah Energy Company Establishes World's First Nuclear Language Proficiency Standards
Masdar Signs Region's First Green Revolving Credit Facility to Drive Sustainabil...