Emirates News Emirates News A partnership between Mashreq Bank and “casho” for immediate payment. Emirates Source of News – UAE – Statement with details of the news A partnership between Mashreq Bank and “casho” for immediate payment:
The bank is one of the 3 largest institutions for collecting merchants’ payments in the country, and has achieved growth in this area by more than 35% in the first quarter of 2021, compared to the same period last year. The bank witnessed a growth in e-commerce volumes by more than 250% in 2020 compared to 2019.
“With the growing trend of using contactless payments and digital wallets in the country steadily, we expect an increase in the demand for ‘buy and post-pay’ options,” said Kartik Taniga, Executive Vice President, Payments at Mashreq Bank.
Ammar Afif, founder of Cacho, said: “CASHO is currently conducting experimental transactions with its first group of local merchants across the fashion, education, healthcare and automotive sectors, to expand after that to cover international brands and provide more additional services.
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