"Over the last few years, Etisalat has used GITEX as a platform to launch innovative solutions that are now being used by millions of people all over the world," said Khalifa Al Shamsi, Chief Digital Services Officer at Etisalat Group. "We're now looking at ways to build on this successful partnership with MasterCard using the technologies of tomorrow such as this innovative payment product we are showcasing today."
To showcase their partnership in bringing cutting edge payment solutions to the market, Etisalat and MasterCard demonstrated a new solution for the highly anticipated Google Glass computing device to browse, select and pay for products and services. Someday the two companies could utilise innovative machine-to-machine technology to bring it to the market. GITEX 2013 marked the first international demonstration of Google Glass by MasterCard as a next generation payments solution.
Google Glass displays information on a small display over the wearer's right eye that looks like a 25-inch screen viewed from a distance of eight feet; it is expected to be available to consumers from next year. The new shopping and payment solution was developed by MasterCard Labs.
"With technology such as Google Glass coming to the market soon, MasterCard and Etisalat are exploring many more opportunities to build on a successful history of partnering that has already brought innovative solutions in mobile commerce to the market," said Brian Lang, senior vice-president, Market Development, Middle East and Africa, MasterCard.
Over the past two years, the mobile commerce solution Flous, a digital wallet on mobile devices that can be used for a host of financial services including local and international money transfer and cash-free payment of products and services, won two of the telecoms industry's most prestigious awards at the GSMA's Mobile World Congress in Barcelona.
Flous was successfully launched in Egyptian market by Etisalat and MasterCard in conjunction with the Egyptian Banking Company earlier this year.
Strong commitment to excellence and innovation has seen Etisalat become one of the world's fastest-growing telecom groups, rapidly expanding across Asia and Africa. Its UAE operations, strategically located at the crossroads of East and West, enables Etisalat to be the major hub in the Middle East for Internet, voice, broadcast, roaming and corporate data services. Etisalat has been recognised as 'Best Operator' 10 times since 2006 and 'Best Wholesale Provider' four times in the last three years. Servicing 143 million customers in 15 countries Etisalat continues to reach out to new customers and markets.
MasterCard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world's fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard's products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews, @MasterCardMEA, join the discussion on the Cashless Pioneers Blog and subscribe for the latest news on the Engagement Bureau.