CASHU, an online payment service option in the Middle East and North Africa (MENA), has launched its first CASHU Virtual Prepaid Card in the UAE, in collaboration with MasterCard, and Noor Bank, a Shari’a compliant bank in the UAE.
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The launch was announced at the Cards and Payments Middle East 2016 conference in Dubai, a smart card and payments event.
UAE citizens will require a registered CASHU account to create their Virtual MasterCard Prepaid Card instantly, which can be used to make payments on e-commerce portals that accept MasterCard.
As a promotional offer, CASHU will be offering the card on request free-of-cost for a period of 90 days from launch. CASHU is considering releasing similar virtual cards for other markets in the region in the near future.
CASHU CEO Thaer Suleiman said: "The Arab world’s e-commerce market is experiencing exponential growth, with prepaid options gaining rapid popularity across the region.
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By GlobalData"The MAJD Card, our Virtual MasterCard Prepaid Card, provides consumers with yet another innovative prepaid payment option from CASHU.
"CASHU’s mission is to enable a cashless society and so it made perfect sense for us to partner with MasterCard and Noor Bank to introduce a CASHU Virtual MasterCard Prepaid Card. It’s secure, easy to issue, easy to use and can be topped up with credit in seconds."
