The Governor of Palestine Monetary Authority Congratulates Middle East Payment Services – MEPS on Launching Operations in Palestine

Ramallah and Al-Bireh governorate – November 12, 2020 – His Excellency the Governor of Palestine Monetary Authority Mr. Azzam Shawwa congratulated Middle East Payment Services - MEPS on the launch of its operations after the Company had obtained the necessary licenses from Palestine Monetary Authority and global payment companies (Visa and MasterCard) to start delivering services in the field of e-payment. This came during a visit by Mr. Shawwa and Palestine Monetary Authority team to MEPS’ headquarters in Ramallah for briefing on MEPS’ progress and the payment tools that MEPS would deliver in the local market.

Mr. Joseph Nesnas, Chairman of MEPS’ Board of Directors, Mr. Salah Al-Hadmi, Vice Chairman of MEPS’ Board of Directors, Mr. Zaher Maala, MEPS’ Board of Directors’ Member, and Mr. Mohammed Halas, MEPS’ CEO, welcomed Mr. Shawwa and the team from Palestine Monetary Authority and briefed them on MEPS’ vision and strategic objectives.

Mr. Shawwa congratulated MEPS on launching the electronic payment services and said that it was important to contribute to the promoting of the culture of electronic payment and financial technology in Palestine as the most effective solutions in the face of political and financial obstacles, as well as the health obstacles that people underwent recently. These obstacles urge us to reduce using cash and to shift to the use of electronic means to carry out financial transactions, said Mr. Shawwa.

The shift towards electronic payment methods comes within the framework of Palestine Monetary Authority's strategic interest because they have effective role in achieving financial inclusion, delivering financial services to all people in the society, they also save costs, and carry out transactions at any time. E-payments services give the opportunity to those who do not have bank accounts, entrepreneurs and small business owners to conduct payments. They also keep pace with global developments in this area, according to Mr. Shawa.

Mr. Halas, MEPS’ CEO, said Mr. Shawwa and Palestine Monetary Authority’s team visit to MEPS was a sign of MEPS’ official operations launch in Palestine and support for this important step that would change the payment system in the Palestinian market, through various electronic payment tools. This would contribute mainly to the promotion of financial inclusion. MEPS aimed from the start to be provider of innovative payment services, provide an infrastructure for a comprehensive, modern and secure payment system, as well as a full range of value-added services, designed to suit the market specifically. MEPS systems range between services to be provided to individuals and merchants and financial institutions and banks. Initially, MEPS will distribute point-of-sale devices to accept card payment transactions, whether Visa or MasterCard, to merchants and companies, and provide a variety of services to a number of banks, including card issuance and e-commerce management services, said Mr. Halas.

“MEPS’ services will facilitate quick and secure purchases and financial transactions for its users. They will also contribute to realizing Palestine Monetary Authority's vision to shift to e-payment tools and reduce the burden of dealing with banknotes,” said Mr. Halas.

MEPS’ team briefed Mr. Shawwa and Palestine Monetary Authority’s team about the products that MEPS will provide in the field of electronic payments in Palestine, in line with the advanced technological developments in the world of finance and business.

Middle East Payment Services - MEPS was founded with contribution from major banks operating in Palestine, including Cairo Amman Bank, Al-Quds Bank, National Bank, and Bank of Jordan, and Middle East Payment Services/Jordan. MEPS is one of the leading e-payments companies in the Middle East, specifically in Jordan and Iraq.