Middle East Payment Services has landed a new collaboration with Saudi-Arabian firm PayTabs to launch the ‘Tap to phone’ soft POS application: MEPS FAST.
‘Tap to phone’ facilitates secure contactless payments from small businesses in retail, tourism, leisure, delivery and logistics, entertainment, hospitality, food and beverage.
The MEPS Fast mobile app transforms merchants’ personal Android phones into point of sale terminals, enabling seamless acceptance of contactless payments from NFC enabled MasterCards and Visa cards.
Ali Abdel Jabbar, CEO of Middle East Payment Services Company, said: “The launch of the newer version MEPS Fast is a reinforcement of the company’s slogan ‘Powered by Innovation,’ which distinguishes MEPS from other competitors in Jordan through its continuous deployment of the latest solutions.
“This unique service is in line with the company’s vision towards achieving financial inclusion in Jordan and expanding our customer base of merchants, with the focus on small and medium-sized companies such as home delivery, transportation, and distribution companies.”
According to Statistica, the Digital Payments market in Jordan is projected to grow by 14.13% from 2023 up to 2027 resulting in a market volume of US$12.25bn in 2027. In January, the Central Bank of Jordan (CBJ) allowed all e-payment companies and banks operating in the Kingdom to set a new ceiling for contactless payments – one transaction should not exceed JD100 and the total value of transactions per day should not exceed JD300.
Eyad Musharbash PayTabs’ Regional General Manager for Levant & Southern Gulf added on the expansion: “Facilitating secure digital payments is a game changer in Levant’s payments landscape. We are excited to once again partner with MEPS to bring innovative, low-cost acceptance solutions that meet the evolving payment needs of small businesses in Jordan.
“The convenience, security, and ease-of-use provided by MEPS Fast will undoubtedly boost businesses’ capabilities while enhancing consumers’ payment experience.”
