Ajman Bank taps AFS for merchant acquiring and payments rollout

UAE-based Ajman Bank has signed a memorandum of knowing (MoU) with Arab Financial Services (AFS) to enactment unneurotic connected merchant acquiring and broader payments and banking capabilities.

The statement covers outgo issuing and processing services, arsenic good arsenic firm banking solutions.

The inaugural is intended to enactment the improvement of payments infrastructure for businesses operating successful a "increasingly integer economy", AFS said successful a statement.

Ajman Bank CEO Mustafa Al Khalfawi said: "As integer commerce continues to evolve, strengthening the infrastructure that supports payments and concern transactions remains a strategical priority.

"Through this collaboration, we purpose to research opportunities that heighten merchant services, grow outgo capabilities, and enactment businesses with solutions that are aligned with their evolving needs. Partnerships of this quality play an important relation successful gathering a much connected and resilient fiscal ecosystem".

The MoU sets retired a model for practice crossed commercial, operational and exertion initiatives. It besides provides a ground for ongoing discussions connected semipermanent maturation and innovation successful payments and merchant services.

AFS Group CEO Dr Samer Soliman said: "Our collaboration with Ajman Bank is simply a committedness to present a level that makes payments wholly straightforward and profoundly integrated.

"We are putting a highly intuitive solution straight into the hands of concern owners truthful they tin absorption connected growth."

AFS was formed successful 1984 to supply outgo products, services and expertise to banks and merchant groups. The institution is owned by 36 banks and fiscal institutions. It serves much than 60 clients successful implicit 20 countries crossed the Middle East and Africa.

In May, AFS partnered with Libyan Islamic Bank (LIB) to enactment the modernisation of Libya's payments landscape.

"Ajman Bank taps AFS for merchant acquiring and payments rollout" was primitively created and published by Electronic Payments International, a GlobalData owned brand.