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Mon 21 May 2007 04:00 AM

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Visa Jordan and STS launch payment-processing service

Visa Jordan Card Services and Specialised Technical Services announce the launch of Paynet, a regional e-payment processing service.

Visa Jordan Card Services (VJCS) and Specialised Technical Services (STS) have announced the launch of Paynet, a regional e-payment processing service for the Middle East and North Africa (MENA) region.

Based in Amman and Dubai, the Paynet service represents a joint venture between the two companies to provide secure payment processing services across major credit cards - including Visa and MasterCard - and direct bank account debits.

The service will also provide secure payment processing across a range of applications including: e-commerce, e-government, electronic bill payment, donations, account Top-Ups and business-to-business applications.

“We are very proud be recognised by leading regional banks as a global player in the payment processing domain. We will be holding a major event to inaugurate the service in Amman within the next two months,” said Sadek Shunnar, executive director at Paynet.

With over 30 different customers across the MENA region, the Paynet platform additionally also extends to cover non-traditional payment methods, including locally branded cards, e-wallets and stored value, to cater for a larger market segment of payers in the region.

“We work with our members on a partnership basis, where we exclusively expose our accumulated best practices and proven business procedures (e.g. merchant on-boarding and certification) for the benefit or our members.

"This obviously increases the efficiency of their operations, reduces necessary time-to-market and enables them to stay focused on their core business instead of having to deal with distracting issues,” said Janti Abdallah, director of business development at Paynet.

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