Acceptance network being enhanced in preparation to launch contactless payment technology
Casablanca, Morocco – In line with its commitment to enhance the electronic payment card acceptance infrastructure in Morocco, global payments and technology company MasterCard today announced the appointment of M2M SPS, a leading provider of secure e-transaction processing solutions as its Principal Member in Morocco.
As a new Principal Member of MasterCard, M2M SPS will be enabling its customers to leverage MasterCard’s acquiring and issuing capabilities across several merchants and e-commerce channels, backed by MasterCard’s support with a suite of advanced value-added services, technical support, training, and new payment platforms. With this enhanced collaboration, MasterCard’s point of sale will significantly increase across Morocco, thereby allowing more consumers to access MasterCard’s global payments network.
Commenting on the new collaboration, Faissal Khdiri, Vice-President and Regional Manager, North and French Speaking Sub-Sahara Africa, MasterCard, said: “Electronic payment solutions are becoming increasingly popular across the North Africa region, as more and more consumers tend to adopt and conduct cashless transactions in their daily activities. Today’s agreement with M2M SPS will enable MasterCard to further support the growth of electronic transactions with state-of-the-art technology solutions, and open up new channels for merchants, which can drive new revenue streams for their businesses, especially in popular sectors such as the transit system and small groceries.”
With this new collaboration, MasterCard is also paving the way for the introduction of latest contactless payments technology, which will enable consumers in Morocco to make fast and secure payments for low value payments across popular outlets.
“As a leading provider of secure processing solutions, M2M SPS is keen to remain at the forefront of technology and business innovation. We are confident that our strategic alliance with MasterCard will not only help us leverage an intense industry expertise in the Issuing and Acquiring segment in Morocco, but also help drive applied innovation and build strong presence in the electronic payments landscape in the North Africa region,” said Mounir Essayegh, Chief Executive Officer, M2M SPS.
MasterCard(NYSE: MA),www.mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews, join the discussion on the Cashless Conversations Blog and subscribe for the latest news.
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