21 February 2016
Dubai - UAE - Mashreq has announced the launch of an upgraded version of Payport, a unique product that allows businesses to accept card payments on the go.  The launch included signing a partnership with DTDC Courier & Cargo, a leading courier delivery service in the UAE, whose entire field force will start using Payport devices to accept card payments.

The upgraded Payport includes state of the art features including cash monitoring, reconciliation, barcode reading, dynamic currency conversion and an automatic tip calculation feature.

Commenting on the launch, Pankaj Kundra, Head of Payments, Mashreq, said: "With the spread of e-commerce across the region, we recognised the need for smart and cashless transaction solutions. Introducing PayPort to the courier industry and facilitating cashless payments is in line with Mashreq's vision of providing our customers with the most rewarding banking relationships.  The service also complements Dubai's vision of becoming a Smart City and underscores Mashreq's commitment to contribute to that vision.

Mashreq was the first bank to introduce this service in the UAE and remains the largest provider of mobile point of sale (mPOS) services in the country. Since its inception, PayPort has significantly improved the customer experience at over 40 businesses in categories ranging from supermarkets to luxury stores to food delivery."

Mr. Suresh Bansal- Director DTDC Eurostar Courier & Cargo LLC, commented: "DTDC Eurostar looks forward to adopting electronic solutions to change an industry that has traditionally been dominated by cash on delivery.  We look forward to adopting the PayPort product across our network.  We will save costs associated with managing cash in an outdoor environment and provide our customers with fast & convenient payment options."

Mashreq has won an award for the "Most Innovative Product in MENA" at the Smart Card & Payment Awards Middle East and was selected winner of "The Best Use of Innovative Technology" in the Middle East & Africa at the MasterCard Innovation Forum 2014 for its Pay Port mobile payment product. As the popularity of Pay Port is spreading across the region, Mashreq plans to reinforce its leadership in the mPOS category.

-Ends-

About Mashreq
Mashreq is the oldest bank in the UAE with an extensive branch network across the Emirates. Mashreq is also present in Qatar, Bahrain, Kuwait and Egypt and 26 overseas offices in 12 countries spread across Europe, USA, Asia and Africa providing a comprehensive range of international financial services. Established in 1967, Mashreq has established itself as a market leader by delivering award-winning customer experiences and innovative thinking across its financial products and services. Mashreq's various banking divisions cater to its own unique specialisms and expertise and include: Corporate Banking, Retail Banking, International Banking, and Innovative Treasury Services. The bank also allows for customers to experience Sharia'h Compliant financial banking solutions. As a leading financial institution, Mashreq is committed to supporting every community it serves. In the UAE, the bank pays particular attention to recruiting, training, and developing UAE National employees.  Mashreq is the only financial institution in the UAE to have been awarded the CSR Label by Dhabi Chamber for five years in a row.

For media enquiries, please contact:
Huda Ismail                                                           Nssrin Khalil
Public Relations, Mashreq                                                Public Relations, Mashreq
Tel: 04 -6083629                                               Tel: 04 - 6083836
Email: HudaI@mashreq.com                               Email: NssrinK@mashreq.com 

© Press Release 2016