Safexpay, a digital payments company, announces the expansion of its tailored suite of payment solutions in three key GCC (Gulf Cooperation Council) countries- Saudi Arabia, Qatar, and Oman. “This strategic move represents a significant step forward in Safexpay’s mission to reshape the future of payments, solutions and foster innovation in these dynamic Middle Eastern markets,” the company said in a statement.
The product offerings in these nations include, a white labelled payment aggregation, payouts solutions, contactless payments like facial recognition-based payments, and single-click checkout features viz. Aasaan.
To support its expansion into the GCC region, Safexpay has strategically partnered with prominent organisations in the UAE, such as Magnati, Abu Dhabi Islamic Bank, Paynest, Dubai Chamber of Commerce, Rakbank and Network International. “These partnerships are instrumental in enabling Safexpay to on-board merchants seamlessly and provide tailor-made solutions for their businesses, ensuring that their expertise and value proposition reach the right players in the market,” it said.
Safexpay is committed to investing approximately $10 million in the GCC region to ensure the success of its operations. The company anticipates remarkable growth in the GCC region, with expectations of achieving an annual growth rate of 80-100 per cent by 2025.
“The decision to target Saudi Arabia, Qatar, and Oman was a natural progression for Safexpay. The GCC countries, including the UAE, Qatar, Oman, and KSA, are witnessing exponential growth in contactless payments and are actively exploring innovative ways to serve consumers and businesses. We aim to on-board around 5000 merchants over the next 2-3 years, further cementing its presence in these markets, our value proposition is offering omnichannel platform for merchants, which is first of its kind in GCC markets,” said Ravi Gupta, Founder and CEO at Safexpay.
Safexpay has set its sights on further expansion into neighbouring markets once its presence is well-established in the GCC region.