PayFast and TWYLA Technology are collaborating to launch PAY2M, a fintech firm that will provide a suite of sophisticated digital payment services to businesses in the MENA area. E-commerce Payment Gateway, E-wallet, and E-Invoice/Billing solutions are among them.
Furthermore, the firm is willing to support Soft POS through its cooperation with one of the world’s most well-known payment schemes, in order to increase creative digital payment acceptance for a variety of organisations, particularly SMEs.
PAY2M will begin operations in Qatar, which has a $4 billion E-commerce sector, before expanding into the lucrative MENA region, which has a $278 billion digital transaction volume. PAY2ambition M’s is to eventually grow into the Kingdom of Saudi Arabia and Egypt in this manner.
PayFast’s industry knowledge, experience, and technological competence are reflected in this relationship.
It’s a key milestone in PAY2regional M’s penetration journey, since the company just earned a state grant from its government for clearing the Qatar Development Bank (QDB) accelerator programme.
PAY2M has also received an in-principle licence from Qatar Central Bank and completed the MVP for Payment Gateway Solutions successfully. As it approaches commercial acceptance, it is now headed to total sandboxing.
To read our blog on “Truck It In secures largest early stage funding in MENA’s region,” click here.