This Sunday saw the launch of MashreqPay, the first converged wallet in the GCC.
The mobile wallet supports contactless payments in-store as well as online & inApp payments. It also incorporates Mashreq Bank’s very popular rewards programme: Salaam.
MashreqPay is built into Snapp, the bank’s award winning mobile banking application. Customers simply register their cards there, upgrade the app in the Play Store, and they’re ready to go. Highly secure, the wallet uses Mastercard MDES and VISA VTS to tokenise card details, preventing skimming and minimising the risk of fraud.
This advanced digital wallet also supports a unique rewards programmes, where discount coupons and cashback are credited to the wallet once the customer’s spending reaches specific levels. The coupons can then be redeemed directly from the wallet.
So, not only the first converged wallet in the GCC, but one of the most advanced anywhere.
Contributed | what does this mean?