08, November 2023, Dubai, UAE - Mastercard, a global technology company in the payments industry, has signed a memorandum of understanding (MOU) with Ottu, a prominent fintech player in the Middle East region. This pioneering partnership is primarily focused on Ottu's integration of Mastercard Gateway, enabling a range of local payment methods in Kuwait, Qatar, Bahrain, and Oman.
Mastercard Gateway offers advanced payment processing and fraud prevention technology to acquiring banks, merchants, micro-merchants, and technology partners. It provides its partners with the reach, security, and innovation to compete in the world of digital payments.
Ottu provides an Online Payments Management Solution (OPMS) designed to streamline online payments, crafted to optimize online payment processes for enterprises across a wide spectrum of industries. Ottu’s solution also seamlessly connects various online sales channels and payment methods, harnessing Ottu's expertise in building an efficient ecosystem.
Through this partnership, Ottu merchants can tap into these local payment methods through a streamlined integration, thereby bridging the gap between international payment networks.
Talal AlAwadhi, CEO of Ottu, stated, "Our partnership with Mastercard Gateway is more than a strategic alliance. It's a vision for integrating global technological might with regional transactional traditions, ensuring the Gulf's payment ecosystem is robust and resonant with its users."
Maria Parpou, Executive Vice President, Mastercard Gateway, said: “At Mastercard, we are committed to partnering with innovative fintech companies such as Ottu to bring advanced payment solutions to the region with the aim of fueling the growth of the digital economy. Mastercard Gateway offers a single connection to help local merchants accept payments globally, facilitating secure and seamless transactions that surpass customer expectations.”
About Ottu
Ottu stands at the forefront of financial technology as a pioneering company committed to transforming the landscape of online payment integration, management, and orchestration for merchants. Their unwavering dedication to innovation, security, and customer-centric solutions has paved the way for strategic partnerships with banks, schemes, and acquirers, enhancing the fintech ecosystem.
About Mastercard (NYSE: MA) www.mastercard.com
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart, and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments, and businesses realize their greatest potential. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.
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