After bolstering its presence in the U.S., Australia, and Canada, Visa is now eyeing new markets with its latest partnership with UAE’s largest financial institution Mashreq.
With the partnership, Visa is now enabling Mashreq cardholders in the Central Europe, Middle East and Africa region to offer the “one-click” Visa Checkout solution, which eliminates the requirement of filling out tedious checkout forms with personal information and jumping from screen-to-screen.
Using Visa Checkout, customers in the UAE would now be able to shop at international stores like Orbitz, Lululemon and Tory Burch.
“The UAE online retail market is witnessing rapid growth, and for online consumers driving this trend, Visa Checkout will offer a faster, simpler and secure solution to complete their purchase,” said Marcello Baricordi, General Manager UAE and Global Accounts Lead at Visa MENA. “We have worked closely with Mashreq Bank to personalize the user’s online shopping experience by offering users a dedicated Visa Checkout enrollment page and featuring the artwork of the bank’s card products in the payment process.”
Visa Checkout, which is often referred to as PayPal’s competitor, is currently in partnership with 260 financial institutions and is enabling the checkout process for over four million accounts that can shop across 140 merchants.
Visa said it has plans to expand its presence in 16 countries including U.S., Australia, and Canada, Argentina, Brazil, Chile, China, Colombia, Hong Kong, Peru, Malaysia, Mexico, New Zealand, Singapore, South Africa and United Arab Emirates by the end of 2015.
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