التكنولوجيا وأخبارها بوابة مصر لأخبار تكنولوجيا المعلومات والإتصالات وفي أفريقيا كما تعتبر مصدر رئيسي للمعلومات حول تكنولوجيا المعلومات والاتصالات والفرص الاستثمارية المرتبطة بالاقتصاد الرقمي في المنطقة بالكامل
New tokenization technology, MDES for Merchants (M4M) designed to protect security of consumers and merchants as shopping goes increasingly digital
As e-commerce continues to accelerate owing to the COVID-19 pandemic, Mastercard is leading the way in fostering cybersecurity and combatting fraud in the Middle East and North Africa.
With online shopping playing an integral role in the region’s economic
recovery, ensuring transaction approval rates remain robust while countering
fraud attempts has taken a completely new focus. Mastercard’s technology
plays an integral role in reducing online fraud, protecting retailers from data
breaches while ensuring that consumers still enjoy a convenient and hassle-
free payment experience. The solution will also enable regional governments
to accept secure digital payments for utility and government related services,
thereby accelerating the shift to digitized government transactions.
As part of Mastercard’s commitment to support the financial data and security
of consumers and merchants alike, it recently introduced MDES for Merchants
(M4M) offering across the region. The new service uses Tokenization
technology to speed up and simplify the purchase process online and in-app,
as well as for subscription-based and recurring payments like streaming
music, video services and utility bills. The new tokenization technology is also
designed to protect security of consumers and merchants as shopping goes
increasingly digital.
Magdy Hassan, Country Manager, Egypt & Pakistan, Mastercard said: “As
online shopping gains a stronger foothold in the region, it is integral that
businesses ensure the trust of consumers and protect their financial data. At
Mastercard, we continue to work with merchants across MENA to introduce
new solutions that ensures frictionless shopping experience with no
compromise on security by enabling technologies like tokenization and
leveraging our payment gateway capabilities with MPGS to bring them into market. E-commerce continues to be a driving force in economic recovery, and
we are working closely with our partners to foster innovation and trust in this
sector.”
Currently, Mastercard has partnered with Checkout.com, a leading global
payment service provider and FOO, a technology company focusing on fintech
solutions, to roll out this technology in the region.
“Checkout.com has been working with Mastercard to introduce innovative
features and products that enable our merchants to seamlessly accept
payments and unlock more value from every transaction”, said Sebastian Reis,
EVP Global e-commerce at Checkout.com. “We’ve seen an acceleration in the
shift from offline to online commerce in MENA driven by the pandemic. As
such, the ecosystem requires constant innovation such as tokenization, to
ensure that consumers and merchants are protected in an increasingly digital
world.”
Ghady Rayess, Managing Partner, FOO said: “During the pandemic period, we
have noticed an exponential growth in demand for online payments. Striving
to always deliver the best solution for our customers, M4M provided the
perfect fit when it came to security and user experience. Together with
Mastercard, we are looking forward to rolling out M4M to all our clients in the
region and keep pushing towards a better payment ecosystem.”
