Emirates NBD, the banking group for the Center East, North Africa and Turkey (MENAT), is becoming a member of forces with Pine Labs, a service provider commerce omnichannel platform, to offer the newest fee options to firms throughout the area.
Emirates NBD will leverage the Pine Labs Credit score+ platform, to ship cutting-edge merchant-acquiring processing options for its company and institutional shoppers, initially within the UAE after which throughout the Kingdom of Saudi Arabia and Egypt.
It hopes the expanded suite of options will empower its shoppers to enhance their digital fee system for on-line and in-store funds alike.
The Fintech Occasions additionally not too long ago sat down with Sumit Mittal, EVP and MD, MEA at Pine Labs, who mentioned the partnership: “We acquired the Credit score+ platform from Mastercard and repurposed it for Emirates NBD. With this, we’ll present buying options for them – each in-store, in addition to on-line. We are going to run their point-of-sale, fee gateway and run all their fee processing.”
Mittal additionally defined how the partnership is enabling Pine Labs to broaden its world affect. “This isn’t just for the UAE alone, however, with Emirates NBD, we plan to broaden into two new markets: Saudi Arabia later this yr, and Egypt subsequent yr.
“We’re already current in Malaysia, Singapore, and Indonesia. From right here, we now have plans to additional broaden our affect throughout everything of the Center East and Africa.”
Enhancing fee options for company shoppers
Ahmed Al Qassim, group head of wholesale banking at Emirates NBD, additionally defined: “Our partnership with Pine Labs will improve our service provider buying companies, offering our company and institutional shoppers with cutting-edge expertise and modern fee options.
“This enlargement ensures we constantly supply a complete array of value-added choices for his or her fee wants. We’re devoted to empowering our shoppers in a quickly digitising world and stay dedicated to supporting companies on this journey.”
Pine Labs’ end-to-end capabilities in stored-value options, in-store fee options, experience in on-line fee gateway options and skill to arrange strong fintech infrastructures make Pine Labs an omnichannel platform for banks, retailers, and enterprise clients.
Emirates NBD at the moment boasts a presence in 13 international locations, serving over 9 million lively clients.
