Dubai, United Arab Emirates Oct 31, 2024 (Issuewire.com) - Balance has strengthened its focus on innovation in payment services with a groundbreaking partnership to bring palm payments technology to international markets at GITEX GLOBAL 2024.
GITEX Global 2024, now in its 44th iteration, remains one of the world's most iconic tech events. This years event hosted over 6500 exhibitors and featured Delegates and Speakers from over 180 countries.
- The MOU signing underscored the commitment to build a new ground breaking payments and super app ecosystem globally starting in Dubai, UAE.
- Through the partnership with Tencent Cloud, Balance is focusing on the development of several crucial digital ecosystems across the UAE.
Also, Tencents focus on a Middle East expansion continues at GITEX GLOBAL 2024 with this strategic partnership with Balance, a leading e-wallet provider in Dubai. This partnership will bring cutting edge technology to Balance including palm payments and the very popular WeChat mini app solution (TCMPP).
Tencent has committed to growing in international markets with Tencent Cloud experiencing over 80% business growth in MENA driven by strong interest from both public and private sectors for digital transformation and cloud-based innovations.
Tencent Cloud by entering a new partnership with Balance, a leading e-wallet provider in Dubai, now also looking to help revolutionize the Middle East payment landscape. Balance will integrate the Tencent Cloud Palm Verification capability into its payment system, enabling secure and seamless identity authentication for payment authorizations. The authentication will occur within Balances private, dedicated environment, ensuring a fully compliant and secure payment ecosystem. Balance is also working on the adoption of the TCMPP platform as part of its app, thus providing brands and users solutions to access a host of essential daily services and products through a single interface.
Kartik Tikku, Founder & CEO of Balance, is looking forward to this partnership with Tencent, bringing the worlds best payments experience to the UAE and beyond. The smart POS with palm payments is the leading technology that is currently only available with Tencent and Amazon. Balance understands that the UAEs young population craves innovation and the best in global technology, which makes it the perfect place to bring this technology to the international markets. We are proud to bring this solution to multiple partners including restaurants, gyms, salons, hotels and supermarkets in the UAE. The interest has been very strong and conversions underway with leading global brands to roll this out across their stores.
Dan Hu, Vice President of Tencent Cloud International for the Middle East and Africa, said, As Tencent Cloud continues to deepen its presence in the region, we are confident that our cloud and AI solutions are fully aligned with the local markets needs and digital transformation goals. The new partnership with Balance is a testament to our technologys ability to empower local businesses and government services alike, creating secure, efficient, and innovative platforms that enhance the everyday lives of users.
About Balance
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Balance, a leading digital wallet ecosystem, aims to build the most innovative wallet for the most innovative city in the world. With the ever-changing digital world, Balance plans to create state of the art payments technology to birth a powerful community of friends, family, and brands.
About Tencent Cloud
Tencent Cloud, one of the world's leading cloud companies, is committed to creating innovative solutions to resolve real-world issues and enabling digital transformation for smart industries. Through our extensive global infrastructure, Tencent Cloud provides businesses across the globe with stable and secure industry-leading cloud products and services, leveraging technological advancements such as cloud computing, Big Data analytics, AI, IoT and network security. It is our constant mission to meet the needs of industries across the board, including the fields of gaming, media and entertainment, finance, healthcare, property, retail, travel, and transportation.
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Source :BALANCE TECHNOLOGY LIMITED
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