Micropayments FinTech Innovation in Dubai
30 Aug 2017
International law firm Simmons & Simmons continues to advise on cutting edge payment platform projects and the emerging regulation of payments. The Middle East TMT team, led by partner Raza Rizvi and senior associate Neil Westwood, advised Mercury Payments Services LLC (Mercury) on the phased roll out of an innovative payment service through cards issued by the Roads and Transport Authority of Dubai (RTA).
On the project, Raza Rizvi commented: “The interface of commercial technology projects and payment service provider regulation is a key part of our international FinTech capability and our collaboration with Mercury has given us the opportunity to showcase this once again. Our work in the wider region, including on digital authentication projects in other Gulf States and mobile money / open API projects in Africa, point to a major shake-up in the payments landscape which will benefit consumers across emerging markets. Mercury is pioneering that positive shake-up.”
Denzil Lawson, Head of Mercury, added: “The solution makes people’s lives simpler by removing the need to carry cash for day-to-day purchases, particularly for micropayments. Whether buying groceries after a metro ride or a coffee on the way to work, the Nol card provides a convenient, secure and easy way to pay. We anticipate additional roll out and further adoption.”
The firm has also recently announced it will be a legal partner to FinTech Hive at Dubai International Financial Centre Authority (DIFC), the first-of-its-kind accelerator in the Middle East, Africa and South Asia (MEASA) region. To find out more, click here