MBME Group leverages modern solutions to lead MENA’s payment solutions market which is growing by 14.8%
UAE’s largest payment services platforms in the UAE, MBME currently has over 3.2 million active users
December 15, 2022
MBME Group, the UAE’s largest payment aggregation platform, reported that businesses can grow by 14.8 per cent by integrating modern, secure, and prompt payment solutions. The payment platform, which currently has more than 3.2 million active users, encourages businesses to adopt secure and quick payment solutions that are based on modern technology, in order to boost growth and enhance customer experience.
MBME also reported that the company has made significant updates and developments to its payment platform. The business has processed more than 90 million transactions between over 3.2 million customers. This is highly relevant as the ‘Digital Economy Strategy,’ which was introduced in April 2022, aims to strengthen the UAE’s position as a regional and global hub for the digital economy by doubling its share of the country’s gross domestic product (GDP) from 9.7 per cent to 19.4 per cent within ten years.
Ali Mohamed Saeed Albadi Aldhaheri, Chairman of MBME Group, said: “We believe that investing in the development of the digital economy allows us to make technology investments today that meet tomorrow’s needs. As a result, this has remained our vision and our primary objectives and services continue to be focused on this need. As part of our plans for growth and expansion, we will also concentrate on extending our reach and exploring new regions, and more in the future.”
Abdelhadi Mohamed, Managing Director of MBME Group, said: “At MBME, our mission is to contribute to the economic growth of the MENA region, the GCC, and the UAE by maximising customer and shareholder value through digitalisation, facilitating digital transformation, and creating a challenging work environment for our members. With businesses constantly using online payments to ensure a seamless journey, it is crucial for us to offer smart and secure payment solutions, as it is becoming increasingly important in today’s digital world to align yourself with various evolving industries. Additionally, we will continue to promote innovative payment solutions among businesses, while also updating and enhancing our services to meet shifting customer demands.”
Through its direct and indirect operations, MBME operates more than 4,000 touch points across the seven Emirates and has developed over 660 application programming interfaces (APIs). As a result of its broad global network, MBME’s Ventures is positioned to take advantage of opportunities in some of the most advanced technology sectors, such as fintech, blockchain, metaverse, gaming, e-commerce, artificial intelligence, and machine learning. The Group also promotes adoption of advanced solutions to accelerate market growth in payment solutions sector.
Saeed Mohamed Saeed Albadi Aldhaheri, Deputy Chairman of MBME Group, stated: “As with other industries, the banking and finance sector is also undergoing rapid technological developments. Digitisation in the finance sector is transforming cash flows and transaction processes in an economy. Consequently, at MBME, we envision developing and promoting advanced digital payment solutions that can support this progress and aid in the advent of digital banking, which is fundamentally transforming the banking industry.”
In line with the vision of Abu Dhabi government, MBME offers a range of smart payment collection and aggregation services to the UAE’s government entities, private sector businesses, and retail customers. The company’s services are used by customers across multiple sectors of the economy, including telecommunications, transport, entertainment, aviation, and international payments and transfers among others. The platform aims to accelerate the adoption of modern digital payment solutions, as real-time payment systems and digital banking continue to provide individuals, businesses, and financial institutions with robust transaction systems, end-to-end security, encrypted data transfer, and a variety of useful microservices.