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Central Bank of Jordan Authorizes Integration of Middle East Payment Services (MEPS) Cashless Payment Services within Its Platform via MOBIbucks

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Original Press Release

Central Bank of Jordan Authorizes Integration of Middle East Payment Services (MEPS) Cashless Payment Services within Its Platform via MOBIbucks

Press release date: March 26, 2014

Dubai, UAE – MOBIbucks FZ, LLC, the MENA subsidiary of a leading mobile payments technology company, announced it has completed an ambitious project for the integration of the Middle East Payment Services (MEPS), a consortium of seven Arab Banks providing payment processing services in the Middle East, to the Central Bank of Jordan.

The new move will open a new chapter of electronic payments for consumers in Jordan following the authorization of the integration by the Central Bank of Jordan.

"Jordan is a great candidate to top Arab countries in the highest rates of penetration of cashless payment services. This integration will let consumers in the kingdom avail themselves to an innovative cardless and cashless payment service," said Ziad Alshobaki, MOBIbucks managing director of MENA operations. "The integration will enable more consumers to benefit from MOBIbucks innovative solutions, which enable consumers to make everyday purchases using just a mobile phone number, without the need for cash, card or even for the mobile phone to be in the user's possession at the time of the purchase."

Alshobaki added: "Upon the completion of this challenging project with Central Bank of Jordan, MEPS will offer the MOBIbucks mobile payment solution to end users, banks, as well as to businesses, such as restaurants, fast food outlets, and coffee shops."

MEPS is leading the way in the development of the payments landscape in Jordan. The emerging needs for payments in the digital economy demand new payment tools. MOBIbucks is one such innovative tool. MOBIbucks is a unique system with a wide variety of functionalities that will be used by consumers for such things as frequent low-value purchases, person-to-person (P2P) payments and money transfers.

Following the integration, MOBIbucks' contemporary mobile payment platform will be more fully utilized in such a fast growing digital market as Jordan.

Alshobaki said: "MEPS is laying the foundation to empower consumers in Jordan with the most innovative and contemporary method for doing payment transactions. We are delighted to contribute in this vision."

MEPS offers payment management services to banks and facilitates payment for other businesses, such as hotels, restaurants, travel and tourism agencies, car rental, hospitals and a variety of shops in Jordan, Iraq and Palestine. Middle East Payment Services is owned by a number of Jordanian banks.

MOBIbucks unique mobile payments and mobile marketing solutions are based upon a patent-pending cloud-based technology platform. MOBIbucks is the only mobile payment solution for making purchases using just a mobile phone number and secure PIN while leveraging existing merchant Point-Of-Sale (POS) systems. The company's mobile marketing and rewards solution is a powerful, paperless, card less merchandising tool to offer personalized coupons and loyalty rewards.

About MOBIbucks:
MOBIbucks FZ LLC is a subsidiary of Quisk, Inc, a leading provider of mobile marketing and payments solutions for banks and merchants based in Sunnyvale, CA. MOBIbucks is led by a combination of payment industry veterans from Cybersource/Visa and ViVOtech, along with innovative entrepreneurs working together with leading edge retailers to create the next generation payment infrastructure. For more information, please visit www.MOBIbucksFZ.com.

About Middle East Payment Services:
Middle East Payment Services (MEPS) is a leading regional provider for cards and payment services operating out of Amman - Jordan. MEPS is a consortium of Banks and a strategic partner to ensure that regional banks are able to guarantee their customer base with the best services in electronic payments and financial outsourcing. MEPS' solutions are built on the very latest technology in international e-payment and card systems, with the most comprehensive, secure and flexible solutions available - including hosting all cards and transaction data. MEPS is committed to staying abreast of the latest sector developments, introducing new products and practices and in turn providing the full suite of training and consultancy to each card provider. Meeting the demands of the modern consumer is an ongoing guarantee. www.mepspay.com



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