Mint ME Launches New Digital Marketplace Products That Enhance Shopping And Payments Experience For Merchants And Consumers In The UAE
Mint Middle East (MME) is reinventing online shopping and payments in the UAE and the region with three new products.
Three products — GoMart, Marakez and MintPay — will foray into the country with the aim to taking consumer experience with online shopping to a new level, offering an integrated secure payments gateway that completes a seamless shopping experience.
Abdulrazzaq Al Abdullah, Chairman and CEO of Mint Middle East and a philanthropist, said: “The three products are a testament to the growing popularity of e-commerce in the region and the rising demand for a reliable and secure payments network. Over the years, we have gathered insights from consumers, merchants and financial institutions to help us map their expectations in online shopping and digital payments in our product development.”
He continued: “As per Central Bank, the financial inclusion opportunity in the Arab World is 92% of which 69% are unbanked and 23% are underbanked population. We also appreciate that small-scale merchants with entrepreneurial ventures need stronger support when competing with e-commerce giants in the region. Launching a new e-commerce and payments platform by themselves is expensive. Our new inclusive solutions provide them a ready infrastructure to immediately benefit from digital sales and reap the dividends of this growing market. The solutions will help merchants to scale their business and offer peace of mind to their end-consumers. We expect 20% business growth in 2019.”
This new grocery marketplace comes with an integrated omni-channel technology platform which caters to unbanked & underbanked merchants. GoMart promises a seamless, end-to-end experience of an online MINT marketplace that covers web, mobile and in-store experiences. To make the new platform more attractive and easier to adopt, GoMart will be offered to merchants with integrated services like In-store Point of Sale (PoS), finance and taxation assistance, inventory management and supply chain management amongst others.
Marakez
This is a luxury fashion and lifestyle marketplace with its own home-shopping digital TV channel for fashion, electronics, music, videos, books and other products. Marakez will help businesses to sell directly to thousands of consumers throughout the UAE who are increasingly turning to digital touch points both for product information and purchase.
This digital solution is a crucial addition in the company’s journey from a payments system to a fintech company. The secure and high-speed payment gateway, offered in collaboration with a leading UAE bank, will enhance merchants’ online businesses through a seamless digital payments system. It boasts an advanced tokenization and point-to-point encryption facility. The payment facility comes with other key offerings, such as QR code-enabled payments and loyalty program management.
With both GoMart and Marakez, Mint Middle East aims to empower small-scale merchants who may not have the ready capital to build a new digital e-commerce platform. Mint itself will not hold inventory or compete with e-tailers in the market. But its newly-designed platforms will equip merchants to reach new customers in the online space while maximizing their in-store business potential. An online business also needs a reliable payments system to process digital payments in a secure environment. And Mint’s MintPay product fills that gap.
