MEA UAE Business Awards 2017

MEAMARKETS / UAE BUSINESS AWARDS 2017 25 Best Payment Services Provider - Dubai g the streamlining and integration of internal processes that enables the Company to offer quick turnaround time and early mover advantage to clients in a rush to introduce innovative services. One of the outstanding achievements in the MENA region has been the implementation of a closed loop PoS solution in Libya. This was a daring venture in difficult and uncharted territory and has proved to be an unparalleled success with the Company merrily processing over two and a half million transactions a month from that market alone. The implementation has become industry folklore and the Company is inundated with calls for replication in other new markets that lack the basic payments infrastructure. The success of WDP in the regional markets has been complemented by the tremendous growth in processing volumes in both the issuing and acquiring segments through insourcing of almost 80% of Wirecard Bank’s business that was hitherto being handled by other TPPs. Further, the Company has signed on large and prestigious Tier - I bank and financial institutions from the Asia-Pacific region that have driven hosting and processing volumes through the roof and prompted a complete overhaul of the growth strategy. Such has been the pace of developments over the last five years that the Company’s medium/ long term plans have come to nought and it has been forced to move office twice to accommodate the unplanned personnel growth. Ultimately, thanks to these growth strategies the future appears to be extremely bright and challenging, with Wire Card Processing is well-prepared to build upon the success that has it has already scripted over the last few years.