TechPression

Tag: Payrails

  • Mastercard, Payrails partner to enhance security of digital transactions 

    Mastercard, Payrails partner to enhance security of digital transactions 

    On Tuesday, Mastercard announced a strategic partnership with Payrails aimed at transforming enterprise digital payments. 

    This collaboration is set to enhance payment solutions for large businesses, providing them with the tools necessary to navigate the complexities of the digital economy effectively.

    Read also: Mastercard, KCB Bank partner to introduce multi-currency prepaid card in Kenya

    Mastercard and Payrails streamline payment optimisation

    The partnership combines Mastercard’s extensive network and technology with Payrails’ expertise in payment optimisation. They will co-create innovative payment acceptance products that are seamlessly integrated into enterprise systems. This integration allows businesses to access flexible payment options tailored to their needs. 

    Amnah Ajmal, Executive Vice President of Market Development for EEMEA at Mastercard, stated, “At Mastercard, we work with our enterprise partners to develop and implement seamless and adaptable payment solutions”. This initiative is expected to streamline transactions and improve operational efficiency for global enterprises.

    Payrails CEO Orkhan Abdullayev expressed excitement about the collaboration, highlighting its potential to enhance transaction security and scalability. 

    He noted, “We are delighted to team up with Mastercard to deliver unparalleled payment solutions that enhance transaction security, offer unprecedented scalability, and reduce time to market.” The partnership aims to give businesses a competitive edge by enabling them to manage high transaction volumes across multiple markets.

    Read also: Alipay remittances now available via stc pay and Mastercard

    Localised payment experiences

    One key feature of this partnership is the focus on localising payment methods to cater to various countries. This approach aims to create a more dynamic and seamless consumer checkout experience. By offering a wider range of payment options tailored to local preferences, Mastercard and Payrails are committed to enhancing customer satisfaction. The initiative will support diverse payment methods and allow enterprises to implement region-specific checkout solutions.

    This collaboration benefits large enterprises and aims to improve customers’ overall payment experience. Mastercard and Payrails intend to set new industry standards in digital payments by addressing the unique market needs. 

    As Abdullayev mentioned, “We look forward to setting new industry standards and paving the way for sustained growth together”. This partnership marks a significant step toward revolutionising how enterprises handle digital payments in an increasingly interconnected global economy.

  • Payrails, inDrive to transform digital payments for ride-hailing in MENA

    Payrails, inDrive to transform digital payments for ride-hailing in MENA

    To revolutionise the ride-hailing industry in the Middle East and North Africa (MENA), inDrive,  a leading global ride-hailing service, has partnered with Payrails, a payment technology innovator, to enhance payment processes and improve user experiences. 

    This collaboration has already led to an 11% increase in card approval rates, streamlining payment operations and driving efficiency in the competitive market.

    The partnership between inDrive and Payrails is a significant step towards modernising the payment landscape in MENA. By integrating Payrails’ advanced payment solutions, inDrive aims to offer a seamless and reliable payment experience for its users.

    Read also: Bidding Wars: Bolt vs inDrive

    Boosting Card Approval Rates

    One of the most notable achievements of this partnership is the impressive 11% increase in card approval rates. This improvement ensures that more customers can complete their transactions without facing payment rejections, which often lead to frustration and service interruptions. Higher approval rates enhance customer satisfaction and foster trust in the ride-hailing service, encouraging more frequent use of the platform.

    In addition to improving card approval rates, the collaboration has streamlined inDrive’s payment processes. Payrails’ cutting-edge technology simplifies the payment workflow, reducing the time and effort required for transactions. This efficiency benefits both drivers and passengers, ensuring that payments are processed swiftly and accurately. By minimizing payment-related delays and errors, inDrive can provide a smoother and more reliable service to its users.

    The ultimate goal of the inDrive and Payrails partnership is to enhance the overall user experience. By addressing common payment issues and implementing innovative solutions, the collaboration ensures that users enjoy a hassle-free ride-hailing experience. Improved payment reliability and efficiency contribute to a more positive perception of the service, encouraging customer loyalty and attracting new users.

    This partnership is not just about improving payment processes; it is also about driving efficiency and innovation within the ride-hailing industry. By leveraging Payrails’ expertise, inDrive can focus on its core mission of providing safe, reliable, and affordable transportation services.

     Impact on the Ride-Hailing Industry and Future Prospects

    The impact of this partnership extends beyond inDrive and its users. It sets a new standard for payment efficiency and reliability in the ride-hailing industry, encouraging other companies to adopt similar technologies and strategies. As more ride-hailing services embrace advanced payment solutions, the entire industry stands to benefit from increased efficiency and improved customer experiences.

    Read also: Bolt challenges InDrive dominance in Botswana

    Looking ahead, the collaboration between inDrive and Payrails holds promising potential for further advancements in the ride-hailing sector.

    The partnership paves the way for additional innovations in payment technology, potentially introducing features such as real-time payment tracking, enhanced security measures, and personalized payment options. These advancements will continue to enhance user satisfaction and drive the growth of the ride-hailing industry in MENA and beyond.

    The partnership between inDrive and Payrails marks a significant milestone in the evolution of payment processes within the ride-hailing industry in MENA. By increasing card approval rates, streamlining payment operations, and enhancing user experiences, this collaboration is driving efficiency and innovation.

    As inDrive and Payrails continue to work together, they are poised to set new benchmarks for excellence in the ride-hailing market, benefiting users and the industry as a whole. This strategic alliance is a testament to the power of collaboration in fostering technological advancements and improving service delivery in today’s digital economy.