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Internet users continue to increase across the Middle East typified by a growth of over 490% on the number of users in 2007 compared to 2000. *
Available through Showtime Arabia's current website, www.showtimearabia.com, the main function of the facility is to provide a quick, simple and secure payment process, which includes an electronic copy of the customer's bill and a breakdown of all transactions. The enhancement, which reflects growing regional confidence in online purchasing, also includes an online subscription service.
Ian Hudson, Showtime Arabia Regional Customer Payment Solutions Manager said:
"Online payments are a cost-effective, quick and easy solution and with the support of MasterCard we anticipate a swift take up of this Internet payment option. We know our customers are busy, technology savvy people and this service is a natural step in the evolution of our business that we will continue to tailor to meet customers' needs."
"After much research it was clear that Mashreqbank's MiGS solution would provide Showtime with the greatest range of payment options. We believe it is a reliable solution to ensure the quality and security as we develop enhanced services for our customers," added Hudson.
Mashreqbank was the first financial institution to offer the MiGS to merchants in the Gulf region in October 2002 and since then the acceptance of MiGS has grown rapidly. MasterCard, a leader in advancing global commerce and an innovator in payment processing security, developed MiGS in response to the growing demand for secure web-based shopping.
"As a leader in advancing global commerce, MasterCard is continuously developing new Internet payment services to facilitate credit card payment transactions everywhere. We are pleased to cooperate with Showtime Arabia and Mashreqbank to offer our vast experience in Internet payment processes and to provide a unique and strategic platform for global credit card payment processes. As a turnkey internet payment gateway, MiGS is a complete payment solution that enables banks to provide their merchants with secure online payments while avoiding the cost of developing their own payment gateway. MiGS is a cost-effective, quick and easy solution that has the global recognition and support of MasterCard," said Patrick Hayes, Vice President of Product Delivery, MasterCard Worldwide, South Asia, Middle East and North Africa. "MasterCard is committed to creating more advanced methods of payment that fuel economic connections and drive real business value for its customers, merchants and consumers across the diverse region."
Hermant Lalithraj, Senior VP, Head SME Business, Mashreq Bank said: "We have been using the MiGS solution for a number of years and are delighted with Showtime Arabia's decision to use the platform for their card processing. We have seen Internet shopping in this region increase rapidly over the last couple of years and expect this trend to accelerate. Mashreqbank is leading the way in supporting this new channel for our merchants. MiGS has enabled us to offer state-of-the-art service to organisations like Showtime Arabia who want to provide a safe but inexpensive online shopping solution."
MiGS provides a white-label gateway that banks can re-brand and offer to their merchants as a fully compliant and secure payment gateway.
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Posted by Anne-Birte Stensgaard, Senior News Editor
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