CredoPay, a neo-banking and unified payment acquiring solution provider, announced its foray into Middle East.
The leading fintech enabler launched its services under the brand name SalisPay in Muscat, capital of Oman, last week. SalisPay is a joint venture with Oman Computer Services LLC, a 100% subsidiary of Oman’s largest business conglomerate The Zubair Corporation (TZC). TZC has businesses in a wide range of industries including technology, infrastructure, investments, real estate, tourism, real estate, telecommunications, energy and education, the statement said.
SalisPay will be a one-stop solution for unified acquiring, multi-channel payment processing and connected banking solutions to banks, neo-banks, payment facilitators, merchant acquirers, fintech companies and ISOs in Middle East. The joint entity will provide clients a secure, robust, certified, and scalable solutions through its platform-as-a-service (PaaS), software-as-a-service (SaaS) and managed services products, according to the statement.
CredoPay’s Cofounder and CEO, Dore Swamy said that the joint venture with The Zubair Corporation will help extend Company’s footprint in the Middle East. “CredoPay is a robust platform which offers our clients faster speed-to-market, lower cost of installation, maintenance & operations. This joint venture with TZC, the largest business house in Oman with presence and influence across Middle East, will help us capture the market in Middle East,” Dore Swamy added.
TZC’s Group CEO, Niels Bormans said that SalisPay was part of the endeavour to pave the way for digital payment future of the region. “This innovative fintech platform is set to revolutionise how we make and receive payments in Oman and Middle East in the near future,” he added.
CredoPay’s Cofounder and CTO, Captain Siva Raja Sekhar Padala (Retd) said, “The platform is highly scalable, robust and secure and is certified by leading international certification agencies including PCI DSS and ISO 9001:2015. It is capable of processing transactions of RuPay, VISA, MasterCard, AMEX, JCB and many more international Card Associations.”
SalisPay COO, Anu Cherian Philip said, “With contactless and mobile payments on the rise, and in-person retail sales picking up momentum again, many businesses in the Middle East are looking to take advantage. It is our goal at SalisPay to be their trusted partner in this growth journey, supporting their needs for a seamless, digital payment processing and collection experience.”
Prior to expansion to Middle East, CredoPay had operations in India, South Africa, Latin America and Sri Lanka. It has plans to expand to North America, South East Asia and Africa in the coming years. CredoPay had raised a Pre-series A round of $5 million from EzSwype LLC and Zent International Limited earlier this year.
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