In a new regional alliance, Mastercard has inked a deal with Ottu, a fintech trailblazer in the Middle East.

The synergy aims to empower Ottu's capabilities by integrating the cutting-edge Mastercard Gateway service, enabling a range of local payment options across Kuwait, Qatar, Bahrain, and Oman.

The Marvels of the Gateway

Mastercard, the juggernaut in the tech-driven payments realm, has thrown its weight behind fintech Ottu through a Memorandum of Understanding in yet another financial coming together. The focus? Ottu's integration of Mastercard Gateway, a tech marvel that offers a quantum leap in payment processing and fraud prevention. It's not just a gateway; it's a portal to secure, innovative, and globally competitive digital payments.

Mastercard has signed a memorandum of understanding (MOU) with Ottu . This partnership is primarily focused on Ottu's integration of Mastercard Gateway, enabling a range of local payment methods in Kuwait, Qatar, Bahrain, and Oman. #Fintech #PaymentSolution #OPMS pic.twitter.com/sS3u5m5r1P

— Ottu (@GetOttu) November 9, 2023

Ottu's Streamlined Payments

Ottu offers an Online Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term Management Solution (OPMS) to its customers, allowing for seamless online payments across diverse industries. The fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term not only connects various sales channels and payment methods but also creates an efficient ecosystem where transactions flow smoothly.

Through this dynamic partnership, Ottu's merchants gain access to an array of local payment methods made available via the card giant's system. The result? A harmonious fusion of international prowess and regional capabilities, creating a robust Gulf payment ecosystem. Talal AlAwadhi, Ottu's CEO, sees the partnership as a blend of global technological might with an understanding of the pulse of regional transactions, “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."

In Support of Digital Growth

Maria Parpou, Executive Vice President, Mastercard Gateway, said, “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.”