Mashreq Teams up with Visa to Faciliate Merchant Onboarding Process

The company has identified a few pain points in the merchant onboarding process for digital card payments and it has also identified the opportunity and the need that the merchants feel for processing digital payments as the world reels under the pandemic and more users look to stay at home and use digital payments even for basic needs.

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The pain points that were seen in the process were lengthy process for onboarding new merchants, lack of feedback mechanisms, and other such complaints. Mashreq hopes that its partnership with Visa would help iron out these pain points and it would then be able to keep the merchants engaged with quick onboarding.

“We are increasingly experiencing a shift from cash to digital payment methods in the SMB merchants segment,” said Mashreq Executive Vice President and Head of Payments Kartik Taneja. “We are also experiencing unprecedented growth in the eCommerce merchants segment.”