Network International, the region’s most comprehensive card solutions provider, is all set to introduce a new service that will add an entirely new dimension to the convenience of their merchants. MasterCard Gateway Service (MiGS) is a turnkey payment gateway that significantly reduces the complexity and costs of acquiring, enabling, supporting and processing for Electronic Commerce merchants.
This value added service from MasterCard International is designed to enhance acquirer services and profit. “MiGS presents a host of benefits to the merchants, financial institutions and corporate businesses that Network International caters to,” said Mr. Ram Chari, Senior Manager, Network International.
“It is in line with our policy of making things more convenient for our stakeholders, and is another first for the region when it comes to providing card solutions,” he concluded.
Eyad Al-Kourdi, vice president, member relations Middle East & Levant, MasterCard International added: “As a leading global payments solutions provider, MasterCard is continuously developing services to enable financial institutions to improve efficiencies, reach out to more merchant customers and grow their businesses. We are pleased to have worked with Network International to provide a solution that significantly reduces the Card Not Present merchants’ costs and leverages banks’ connectivity to MasterCard’s Banknet® Global Network.”
MiGS provides an attractive outsourcing proposition to acquiring members wishing to provide their merchants with secure payment processing services for all major card brands across Card-Not-Present channels including call centres, IVR, e-commerce, m-commerce and electronic bill payment. It supports payment instruments across the B2C/B2B spectrum and provides merchants with administration tools to improve payments visibility and cash flow.
Member banks stand to gain immensely from this new service as it takes the investment risk away from them, is quicker to market, reduces cost and is off the balance sheet. The relationship between the bank and the merchant is also strengthened as a result.
ABOUT NETWORK INTERNATIONAL
Established in 1994, Network International LLC is today one of the leading credit card and payment services providers in the Gulf and Middle East Region geared to meet the needs of Banks, Financial institutions, and large and individual retailers.
The company is a Principal Member of Visa International and MasterCard International offering customers the most comprehensive range of products and services in both the Issuing and Acquiring segment of the card industry, in the Gulf and Middle East region and beyond.
In addition to the processing and management services offered, Network also provides Consultancy services ranging form Planning and designing, to developing of new products and services and providing sponsorship with Visa and MasterCard International.
To date Network International provides credit and debit card processing services, ATM sharing and ATM management services to more than 25 Banks in the region and manages one of the most extensive ATM networks exceeding 130 ATMs.
Issued on behalf of Network International by tamra C2 For further press information please contact Khalil Majdalawi on: Tel. (971) 4 2951177; Fax: (9714) 2951188. E-mail: khalil@tamra-c2.com
About MasterCard International
MasterCard International is a leading global payments solutions company that provides a broad variety of innovative services in support of our global members’ credit, deposit access, electronic cash, business-to-business and related payment programs. MasterCard manages a family of well-known, widely accepted payment card brands including MasterCard®, Maestro® and Cirrus® and serves financial institutions, consumers and businesses in over 210 countries and territories. The MasterCard award-winning Priceless® advertising campaign is now seen in 106 countries and in 50 languages, giving the MasterCard brand a truly global reach and scope. For more information go to www.mastercardinternational.com.
