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Friday, April 18, 2014
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Etisalat and MasterCard look to the future of mobile payments with new technology

24/10/2013 12:07 (175 Day 19:52 minutes ago)

The FINANCIAL -- Etisalat Group, one of the leading telecoms operators in the Middle East, Asia and Africa, at GITEX Technology Week celebrated an enduring partnership with MasterCard that has brought award-winning technology to the market, according to MasterCard .

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“Over the last few years, Etisalat has used GITEX as a platform to launch innovative solutions that are now being used by millions of people all over the world,” said Khalifa Al Shamsi, Chief Digital Services Officer at Etisalat Group. “We’re now looking at ways to build on this successful partnership with MasterCard using the technologies of tomorrow such as this innovative payment product we are showcasing today,” Shamsi added.

To showcase their partnership in bringing cutting edge payment solutions to the market, Etisalat and MasterCard demonstrated a new solution for the highly anticipated Google Glass computing device to browse, select and pay for products and services. Someday the two companies could utilise innovative machine-to-machine technology to bring it to the market. GITEX 2013 marked the first international demonstration of Google Glass by MasterCard as a next generation payments solution.

Google Glass displays information on a small display over the wearer’s right eye that looks like a 25-inch screen viewed from a distance of eight feet; it is expected to be available to consumers from next year. The new shopping and payment solution was developed by MasterCard Labs, according to MasterCard .


“With technology such as Google Glass coming to the market soon, MasterCard and Etisalat are exploring many more opportunities to build on a successful history of partnering that has already brought innovative solutions in mobile commerce to the market,” said Brian Lang, senior vice-president, Market Development, Middle East and Africa, MasterCard .

Over the past two years, the mobile commerce solution Flous, a digital wallet on mobile devices that can be used for a host of financial services including local and international money transfer and cash-free payment of products and services, won two of the telecoms industry’s most prestigious awards at the GSMA’s Mobile World Congress in Barcelona.

Flous was successfully launched in Egyptian market by Etisalat and MasterCard in conjunction with the Egyptian Banking Company earlier this year, according to MasterCard .

 

 

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