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Singapore tech vendor introduces mobile payment service in Kuwait

Jack Loo | March 6, 2012
Strong demand for mobile commerce in the Middle East, says CEO.

Singapore-based mobile payments and commerce specialist Tagit is making waves in the Middle East market with a new project.

Tagit partnered with Knet, Kuwait's national payment switch provider to roll out the latter's first mobile payment service through its Tasdeed Service, which will enable e-government, telecom and mobile payments.

"Our ongoing project in Kuwait heralds a new era in mobile banking and payment services, and is testament to continued market uptake for mobile commerce. Our pipeline of projects in Asia and Africa keep us optimistic with the growth of mobile commerce and banking sector in these regions," said Naffi Singh, CEO & co-founder of Tagit.

On Tagit's Mobility Platform, end-users have access to multiple payment options and perform a variety of transactions such as utility payments, topping up telephone prepaid cards, online shopping and fund transfers in one single application, across mobile devices, using one payment network.

"Demand for mobile commerce is on the rise in Asia, Middle East and Africa where there are still areas that have unmet banking needs. Through our partnerships with payment aggregators and networks, we are finding solutions to expedite the delivery of mobile commerce and banking services to the consumers using one integrated platform," added Singh.

Tagit recently partnered with a leading bank in Singapore to launch the first-of-its kind cardless cash transaction service using the mobile phone. The mobile banking app has a feature called "Mobile Cash" which allows users to withdraw and transfer money to third parties through the ATM network even without an ATM card.

 

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