UK’s Paymentology cashes in on Saudi Arabia’s growing fintech sector

UK’s Paymentology cashes in on Saudi Arabia’s growing fintech sector

CAIRO: Spearheading the Middle East and North Africa’s financial technology sector, Saudi Arabia has been attracting the attention of global players, one of which is the UK’s Paymentology.

As the Kingdom’s fintech sector relaxes its regulations and accelerates digitalization it is paving the way for vast opportunities for startups like Paymentology to enter the market and innovate.

A leading solutions provider, Paymentology enables banks and fintechs to issue credit and debit cards as well as process payments globally. To ensure smooth operations in Saudi Arabia, the company has studied the local norms and accordingly worked on a specific strategy to boost the Kingdom’s fintech sector by facilitating cashless payments.

“To accelerate the development of a cashless society in Saudi Arabia, Paymentology is actively contributing to digitizing the country’s payments infrastructure and has partnered with well-established digital banks and fintechs whilst disrupting the market with its innovative tech stack,” Nauman Hassan, regional director at Paymentology, MENA, told Arab News.

He added: “Paymentology’s superior multi-cloud platform offering both shared and dedicated processing instances, vast global presence and richer real-time data, set it apart as a leader in payments. Its payments experts bring deep, local market knowledge on the ground in 60 countries, across 14 time zones,