Carta Receives Certification and Approval From UAE Central Bank

In Mobile Solutions, Press Releases by Carta Worldwide

Carta is pleased to announce that Mint Global Processing LLC (“MGP”), a joint venture subsidiary of Carta and Mint Technology, has passed all required testing to complete both issuing and acquiring certification from the UAE Central Bank for prepaid and ATM debit cards. This certification making MGP only the 4th Third Party Processor (“TPP”) in the UAE to be authorized to connect to the Central Bank UAE Switch.

 

In addition, MGP will be able to market its processing services to Banks and other Card Issuers throughout the UAE as well as the GCC. Any card now issued through a financial institution in the UAE and the GCC will be accepted by the Carta MGP platform.Nabil Bader, Mint CEO said today, “This accomplishment is an incredible testament to the work between Mint and Carta Solutions to create a TPP platform that is only 1 of 4 currently approved by the Central Bank in the UAE. By using our own transaction platform, it reduces our costs and dependencies on outside vendors which equates to a stronger bottom line and increased revenues.”

Brian Semkiw, CEO of Carta Worldwide added “The certification is a great achievement, and positions MGP as a leader the rapidly growing Middle East payments market. We look forward to expanding our partnership with added clients and new innovative products and services”.

In addition to transaction processing, Carta will be enabling MGP to deliver more applications to the market including mobile payments and Near Field Communication (NFC) capabilities. These technologies will allow account holders to enjoy integrated mobile account services and make contactless payments directly from the mobile phone.