NEXXO Blockchain smart POS technology now supports VISA contactless payments. The new technology initiative is now launched in the Middle East, starting in Qatar via NEXXO’s local Qatari subsidiary: QPAY; and is being rolled out to more than 250,000 consumers and over 15,000 small business enterprises.
“While most contactless payments in the Middle East are usually accepted at higher-end merchant locations, we are very pleased to see Visa contactless-enabled POS devices at small stores via QPAY: NEXXO’s Qatar operation. This is a tremendous opportunity to extend the benefits of digital payment acceptance to merchants that previously only accepted cash; and for consumers, the simplicity and security of Visa’s contactless technology will be key in shifting their behavior in favor of digital payments,” Dr. Sudheer Nair, Qatar Country Manager of Visa.
Mr. Nebil Ben Aissa, CEO and founder of NEXXO said, “NEXXO’s vision is to become the world’s leading financial services partner for small businesses in emerging markets; and our partnership with VISA, a worldwide leader in digital payments, is helping hundreds of thousands of customers speed up the payment experience. Interestingly, we’ve observed that contactless transaction amounts are larger than cash transactions; this means that customers spend more when they “tap and go” than when they pay with cash, this is very encouraging to SMEs who are always seeking further revenue growth!
…he added “we had a great experience working with Dr. Sudheer and the VISA team; VISA contactless is easy, fast and robust, and we plan to launch this technology onto our blockchain platform to further countries in the Middle East. We also plan to leverage our multi-country expansion model to implement further VISA powered solutions across emerging markets in the Middle East, Asia and Africa”.
The NEXXO blockchain smart POS platform, is the only blockchain powered payment platform certified by the highest security standards such as Payment Card Industry (PCI) and Data Security Standard 3.2.1 certification. It is also the only multi-Application secured Android POS platform in the Middle East; with full compliance with local and international payment schemes.
About VISA
Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network - enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of connected commerce on any device, and a driving force behind the dream of a cashless future for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit www.visamiddleeast.com, www.visanewsmena.tumblr.com or follow us on Twitter @Visamiddleeast.
About NEXXO
NEXXO, is a multi-country fintech company offering Community-Powered Financial Services to Millions of Small Business across emerging markets in the Middle East, Asia and Africa. Our Mission is to Empower Small Business Owners & Operators and enable them to have a Better Financial Life for their families, their employees and their communities. We partner with local central banks, local and global financial institutions to implement Community Banking Services which help small businesses grow revenues, enhance profits and achieve a strong and sustainable local economy.