On the side lines of the biggest payments event of the region, Cards & Payments Middle East in Dubai, Al Taif Money Transfer Co (TMT), the largest money transfer services provider in Iraq with offices in USA, UK, Belgium, UAE and Jordan; a subsidiary of Al Taif Group signed up Covalent; a joint venture between TPS and Access Group for a digital payments platform.

Farhan Al Musawi, CEO of Al Taif Group and Al Taif Money Transfer said: “We are pleased to engage with a strategic partnership with UnionPay, which is one of the largest and most modern companies in the bank card industry in China and the world and TPS & Covalent to deliver effective cards and payments processing services in Iraq. As we all know, Iraqi markets lacks sophisticated cards and payments services, and Al Taif can play a major role in this field. We have promising and ambitious plans in the next few years as we look ahead to lead the cards’ issuing and acquiring sector in Iraq and facilitate electronic payments services locally and globally."