This partnership brings the convenience of contactless payments to merchants and consumers in Iraq
- Businesses in the country can also accept contactless payments directly on their smartphones through S2M's new solution powered by Visa
- With Tap to Phone technology, any NFC enabled Android smartphone can become a point-of-sale (POS) device, making digital payments more accessible and affordable for Iraqi SMEs
Baghdad, Iraq, December 2, 2024 — Visa, a global leader in digital payments, has launched its Tap to Phone technology in partnership with Société Maghrébine de Monétique (S2M) to empower small and medium sized businesses in Iraq with a low-cost digital acceptance solution.
S2M’s solution Mobile Tap, which utilizes Visa’s Tap to Phone technology, enables merchants with Android devices equipped with Near Field Communication (NFC) technology to accept contactless payments simply by downloading a dedicated app. This collaboration aims to revolutionize the payment landscape by empowering sellers to facilitate payments seamlessly using their smartphones without the need for additional hardware investment.
Leila Serhan, Senior Vice President and Group Country Manager—North Africa, Levant and Pakistan at Visa, said: “We are thrilled to partner with S2M to launch Tap to Phone technology in Iraq. This strategic collaboration aligns with our commitment to drive financial inclusion for small businesses by adopting digital payments capabilities at a lower cost. This innovative solution empowers retail outlets to rethink and transform the payment experience for consumers. Service staff at storefronts can support consumers to make payments easily without them queuing up at checkout counters, which translates to a better customer experience.1”
Mobile Tap supports Small Medium Enterprises (SMEs) with the option of digital payments acceptance at a lower cost, paving the way for greater participation in the digital economy. This innovative approach eliminates the need for traditional point-of-sale (POS) terminals and can help facilitate a better consumer payment experience. The solution provides merchants and customers with increased convenience and flexibility during transactions.
Enabling Mobile Tap reflects S2M’s unwavering commitment to empowering merchants through innovative software and technology, significantly enhancing the commerce experience for all. Mohamed Amarti-Riffi, Executive Vice President at S2M, said. “This strategic alliance presents a remarkable opportunity to elevate accessible digital payment solutions and foster financial inclusion across Iraq, ensuring that every consumer and every merchant can participate and prosper. Over the past decade, we have witnessed the remarkable potential for innovation and growth within Iraq’s market, and we are wholeheartedly dedicated to supporting its dynamic payment ecosystem.”
As a network that works for everyone, everywhere, Visa’s mission is to drive digital commerce for the benefit of consumers, businesses, and the economy across Iraq. This strategic collaboration aligns with Visa’s target to accelerate the growth of acceptance points in Iraq by availing cutting edge technology like Tap to Phone to support small businesses with digital payment capabilities at a lower cost.