MOBIbucks Launches Mobile Payments in Middle East

Jan. 3, 2012

Middle East Payment Services (MEPS), a consortium of seven banks providing payment processing services in the Middle East, and Louisville, Ky.-based mobile payments technology company MOBIbucks   recently signed a partnership agreement enabling consumers in the Levant region comprising Israel, Jordan, Lebanon and Syria to make payments using a mobile device. “Jordan in particular and the Levant region in general is a fast-growing digital economy,” said Ziad Alshobaki, managing director of MENA operations for MOBIbucks. “It boasts a mobile phone penetration rate exceeding 100 percent. These factors make mobile payments a natural fit.” The MOBIbucks solution enables consumers to make everyday purchases using just a cell phone number, without the need for cash, card or even mobile phone to be in the user’s possession, the companies said. Through this partnership MEPS will offer the MOBIbucks mobile payment solution to banks as well as to businesses, such as restaurants, fast food outlets and coffee shops.