Visa and Multi Level Group «MLG» sign Memorandum of Understanding to make contactless payment options

Visa, the world’s leader in digital payments, and Multi Level Group (MLG), a leading fintech company with remarkable track record in digital transformation across the MENA region, signed a Memorandum of Understanding (MoU) at the MENA Transport Congress and Exhibition 2022 to collaborate in the areas of issuing and acquiring contactless digital solutions in North Africa.

Under the MOU, and in light of Visa’s global initiative to improve the cashless and digital payment experience, Visa will work with “MLG” to implement various digital experiences in both the private and public sector. Transit comes at the forefront of this strategic partnership whereby both organizations would offer transit solutions that would make passenger experience seamless and reduce travel time by allowing passengers to pay for their ride using their everyday contactless Visa prepaid and co-branded cards or wearable devices.

In addition, the initiative will also leverage Visa and MLG technologies to enable and expand digital acceptance solutions for merchants across markets in various markets across North Africa.

Commenting on the MOU signing, Leila Serhan, Visa’s Senior Vice President and Group Country Manager for NALP, said: “We are pleased to make this important announcement today. The adoption of digital payments is becoming a necessity in public and private projects and transportation is a key area where contactless payments will make a difference, especially as we see Egypt and the entire MENA region focus more than ever on digital transformation. Our MoU with Multi Level Group will focus on synergies and knowledge sharing to deliver smart cashless and mobility solutions across key markets in North Africa. Visa already supports more than 450 projects worldwide and we look forward to bringing our expertise in contactless payments and urban mobility to this initiative.”

Visa’s urban mobility solutions such as the “Visa Known Fare Transit” model, the “Mobility & Transport Transaction” model, and the “Visa Ready for Transit” model are catalyzing the transformation of mass transit globally by reducing infrastructure costs (ticket counters and vending machines) and improving the overall customer experience to drive ridership and revenue growth.

Abdul Jabbar AL Sayegh, Group Chairman, MLG, said: “We are excited to sign this MoU with Visa and play an active role in providing daily commuters with safer, faster and more convenient end to end solution including payment for their trips, as well as supporting the region in its efforts to expand the digital acceptance landscape. Through this MOU, we hope to leverage Visa’s advanced diversified solutions as well as MLG experience in digital transformation, which combined will help shape the future of seamless transportation.

We are also glad to promote acceptance of EMV contactless payment to both consumers and merchants through “The Platform” which is one of existing assets of Multi Level Group.

Promotion of digital payments has been accorded highest priority by “MLG” to bring all the segments under the fold of digital payment services and to provide facility of seamless digital payment to all activities in a convenient, easy, affordable, quick and secured manner.”

As consumers move towards cashless and low-touch payment methods, this partnership will see both companies sharing best practices to enhance and create greater efficiencies in the transit industry.