Xpence, an award-winning B2B payments platform in the GCC, announce that it has entered a strategic partnership with Paymob, the leading financial services enabler in the MENA region, at 24 Fintech in Riyadh, Saudi Arabia. The partnership agreement marks a significant milestone in the digital payment landscape for SMEs across the GCC.
Through this partnership, Xpence will be able to include Paymob’s cutting-edge payment processing technology straight into its platform, facilitating the easy collection of card payments from both online and in-person sources for SMEs across the GCC. The Xpence platform, in conjunction with Paymob’s technology, is poised to revolutionize the digital payment infrastructure accessible to businesses in the region, thereby fostering increased operational efficiency and scalability.
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Since its establishment in 2015, Paymob has been the industry leader in omnichannel payments infrastructure, providing merchants with the most extensive acceptance suite available through its gateway, point-of-sale terminals, and Paymob app.
Hussain Al-Herz, Co-founder & COO at Xpence, stated: “We are thrilled to partner with Paymob, a leader in fintech innovation, to bring advanced payment solutions such as e-invoicing and soft POS to our users. We will be rolling these features out to our customers in the UAE first, providing SMEs with the tools to simplify business payments and improve operational efficiency. This collaboration reinforces our commitment to empowering businesses across the GCC in today’s rapidly evolving digital economy.”
Omar El Gammal, EVP International Business Development at Paymob, added: “Our collaboration with Xpence is a strategic move that extends our payment solutions to more businesses in the GCC, enabling them to thrive in an increasingly competitive market. Together, we are setting a new standard for digital payments in the region.”
Formalization of the cooperation took place at the inaugural 24 Fintech event, which took place at the Riyadh Front Exhibition & Conference Centre this year. The Financial Sector Development Program (FSDP) and the Saudi Central Bank (SAMA), two important Saudi government organizations, sponsored the event, which attracted over 26,000 participants, 300 exhibitors, and 200 international investors.
About Xpence
Xpence is a GCC-based, multi-award winning B2B payments platform that makes business payments easier for small and medium-sized enterprises. Digital wallets, corporate cards, and cost management software are just a few of the many financial tools that Xpence provides, enabling companies to handle their money safely and effectively.
About Paymob
In MENA, Paymob is the top financial services enabler, providing clients with state-of-the-art financial solutions. Its omnichannel gateway provides over 250,000 merchants with access to cutting-edge financial services and more than 40 payment options. In 2018, Paymob became the first fintech startup to obtain a Payments Facilitator license from the Central Bank of Egypt (CBE).
