Bahrain fintech firm PIE wins Mastercard licence
COMMERCIAL NEWS
Payment International Enterprise (PIE), one of the largest fintech companies in Bahrain, has announced that it has become a principal licensee for Mastercard, a leading technology company in the global payments industry.
With this development, PIE has renewed its strategic commitment to providing innovative, reliable, and efficient financial products for its customers in the Middle East North Africa (Mena) region.
PIE is a leading specialist in prepaid, mobile, and NFC solutions for the banked and unbanked at the core of customers payment needs. It offers the full value chain of cashless payment including various types of prepaid products for the banking and telecom sectors.
In addition, it will offer online check-out solutions such as Masterpass, a digital wallet that allows consumers to store card information in a secure location, providing a hassle-free way to make convenient, simple, fast and safe payments while enhancing and simplifying the physical and digital shopping experience
The company has been investing heavily in infrastructure development, thus making high-value commitments to the future and striving to provide its customers with end-to-end services as a single provider.
One of the company’s major projects in 2016 was the launch of eGov kiosks and TAM-Dinar project for government institutions in Bahrain to facilitate ease of payments for government services.
This successful project is one of many strategies PIE is undertaking to lead the way in moving towards a cashless society and innovating alternative payment options for a modern world.
CEO Fawaz Ghazal dubbed it as a major milestone for PIE. "The Mastercard licence allows us to provide international player products to our clients and expand our services beyond conventional payments. Our newly-formed partnership will play a vital and crucial role towards our commitment to transform Bahrain into a cashless society by 2030."
"We look forward to the future and will continue to take major leaps through our collaboration with Mastercard," stated Ghazal.
According to him, this comes at a strategic time when the kingdom’s government is looking to mandate a Wage Protection System (WPS) solution which is set for implementation on a national level.
"Our partnership with Mastercard will allow us to provide outstanding end-to-end solutions that serve employers and employees in the best of our capacity within the region," noted Ghazal.
Samrat Raj, the country manager, Bahrain at Mastercard, said the partnership with PIE will help drive innovation and expansion within the payments industry in Bahrain and the Mena region.
"Mastercard is at the forefront of driving cashless payments in the Mena region and we believe in working with likeminded organizations to achieve our vision of a world beyond cash," he added.-TradeArabia News Service
