The collaboration will enable customers to make quick payments in stores, online and via mobile apps with Najm prepaid cards and the Apple Pay app on the iPhone.
When one uses a prepaid card with Apple Pay, the card numbers are not stored on the device nor Apple’s servers but rather encrypted on the device. The user is assigned a unique Device Account Number, which is stored on the device. Every transaction performs this same set of actions.
Using i2’s technology, the collaboration was able to put out the app within a matter of weeks, according to an emailed press release.
Amir Wain, founder and CEO of i2c, said they were excited to deliver the best possible experience for customers, with its tech combined with Najm’s regional expertise. There will be other amenities available such as virtual cards and e-wallets as well.
Founded in Silicon Valley, California, in 2001, i2c works to drive innovations for global payments.
Najm, or Majid Al Futtaim Finance, was formed in 2008 and its mission statement is to help customers reach personalized solutions for their financial needs. Najm also works in corporate travel, entertainment expense programs, incentive programs and retail and online marketplace work.
Apple Pay is one of numerous Apple products that have been surging in the company’s repertoire as of late, with strong integrations into global transport systems. It was also recently partnered with the European banking platform Curve, which consolidates numerous accounts and services into one card and app.
This last quarter was a record-breaking one for Apple, with a new high in paid subscribers, the launch of Apple TV+ for streaming and the Apple Arcade gaming service, among other things.