Under the Auspices and Participation of the Governor of Palestine Monetary Authority, MEPS Launches Electronic Payment Gateway

Ramallah and Al Bireh Governorate, October 26, 2021 - Under the auspices and participation of the Governor of Palestine Monetary Authority, Dr. Feras Milhem, Middle East Payment Services Company (MEPS) - Palestine, launched today at the headquarters of Palestine Monetary Authority, the Electronic Payment Gateway in Palestine. The event took place in the presence of Deputy Governor Mr. Mohammed Manasrah, Chairman of the Board of Directors of MEPS Mr. Salah Hidmi, CEO of MEPS Mr. Mohammad Helles, Chairman of the Board of Directors of the Association of Banks in Palestine Mr. Maher Al Masri, Mayor of Al Bireh Mr. Azzam Ismail. Managers of banks, lending institutions and electronic payment services companies, representatives of the Palestine Capital Market Authority and telecommunications companies, insurance sector, technology companies, municipalities, and a number of legal persons and the media also attended the event.

Dr. Milhem said that the launch of the service was a qualitative achievement on our way to the transition to the use of financial technology in Palestine. This is in line with the strategies of Palestine Monetary Authority to develop electronic payment methods, and the Financial Inclusion National Strategy, which aims to keep pace with rapid technological developments and supports the shift to the use of technology in Palestine, especially financial and banking services and electronic payments, and reduce dependence on cash payments for the benefit of the national economy as a whole.

Dr. Milhem added that Palestine Monetary Authority has been leading the stimulus and support efforts for the banking sector in general in order to move to and adopt various electronic services and payments, and had developed and continues to develop infrastructure and systems to keep pace with technological development and help all groups involved in this field. According to Dr. Milhem, Palestine Monetary Authority licensed five electronic payment services companies during 2020; also, Apple Pay Company has recently started operations in Palestine. 

Dr. Milhem explained that this service would provide many features for the traders and cardholders, such as providing payment solutions for e-shopping to merchants’ customers, accepting merchants’ customers' purchases from all over the world, helping the merchants manage payment collection, reducing cash and cheque trading, providing immediate and daily reports for all transactions made on accounts, and protecting the merchants from frauds with electronic payment service. For cardholders, this service will provide secure solutions that meet all the requirements of e-commerce business and obtain products from electronic stores at a lower price than direct purchase, facilitating purchases from local e-stores, as well as security and protection against fraud provided by this service.

Mr. Salah Hidmi expressed his delight with the launch of MEPS’ Electronic Payment Portal service in Palestine because of its importance in facilitating the work of all e-commerce businesses. Hence, companies and traders can collect the value of their sales from customers directly upon request using payment cards (credit, debit, and pre-paid cards) instead of waiting for cash on delivery. This will enhance the culture of payment upon request and will contribute to the expansion of the geographical area of the customers of these businesses and traders to exceed the borders of Palestine to the whole world.

Mr. Hidmi thanked Palestine Monetary Authority for their important role in encouraging payment companies to introduce and offer new products and services that would contribute to the strengthening of the national economy.

Mr. Hidmi stressed MEPS’ values and philosophy based on credibility in dealing with customers and stressed that MEPS - Palestine would make a difference in the industry and provision of electronic services in Palestine through a range of innovative services and products and its reliance on the latest systems to ensure the quality of services provided to companies, traders and customers of Palestine.

Middle East Payment Services Palestine is a Palestinian payment services company founded in a strategic partnership between Middle East Payment Services Jordan and four banks operating in Palestine (Al Quds Bank, National Bank, Cairo Amman Bank and Bank of Jordan), and obtained the approval of Palestine Monetary Authority to launch its services as a payment company in the third quarter of 2020.