Safexpay Expands its Digital Payment Solutions Suite to Saudi Arabia, Qatar, and Oman
Leading digital payments company, Safexpay, has announced its expansion into three key Gulf Cooperation Council (GCC) countries – Saudi Arabia, Qatar, and Oman. The strategic move is a significant step in Safexpay’s mission to innovate and shape the future of payment solutions in these dynamic Middle Eastern markets. The company’s product offerings in these nations include white labelled payment aggregation, payouts solutions, contactless payments like facial recognition-based payments, and single-click checkout features.
Safexpay Partnerships to Facilitate Expansion
To support its expansion into the GCC region, Safexpay has strategically partnered with prominent organizations in the UAE. These partnerships are instrumental in enabling Safexpay to onboard merchants seamlessly and provide tailor-made solutions for their businesses, ensuring that their expertise and value proposition reach the right players in the market.
Investment and Growth Prospects in the GCC Region
The company has committed to investing approximately $10 million in the GCC region to ensure the success of its operations. Safexpay anticipates significant growth in this region, with expectations of achieving an annual growth rate of 80-100% by 2025. The substantial prospective customer market extends across Saudi Arabia, Qatar, Oman, and the UAE, with an estimated count of 4 million Micro, Small and Medium Enterprises (MSMEs).
CEO’s Vision for Safexpay in the GCC Market
Ravi Gupta, Founder and CEO of Safexpay, said that targeting Saudi Arabia, Qatar, and Oman was a natural progression for the company. He noted that these countries, along with the UAE, are experiencing rapid growth in contactless payments and are exploring innovative ways to serve consumers and businesses. Safexpay aims to onboard around 5000 merchants over the next 2-3 years, further solidifying its presence in these markets. The company’s value proposition is to offer an omnichannel platform for merchants, which is the first of its kind in GCC markets.
Future Expansion Plans
Additionally, Safexpay has set its sights on further expansion into neighboring markets once its presence is well established in the GCC region. This expansion plan aligns with the company’s strategy of creating a strong foothold before broadening its reach, demonstrating its commitment to establish an indelible mark in the international fintech space.
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