Mashreq: Spins off payments business
- Mashreq Bank is one of the leading financial institutions in the UAE
- Completed the transition of its existing payments business into a new, wholly-owned subsidiary, IDFAA Payment Services LLC
- NEOPAY will leverage the latest technology and innovation, including card processing and merchant acquiring systems
- The launch of NEOPAY comes at a key time in the payments sector, in which digital payments are soaring
- Statistics show that across the Middle East and North Africa and particularly in the GCC
- The launch of NEOPAY is a strategic move that will help fuel the growth of the bank’s payment business
