Global paytech company Global Processing Services has officially launched its operations in the MENA region, the company announced in a statement last week.
The paytech company has set up its headquarters in Dubai, and aims to support financial institutions and startups across multiple financial verticals, including digital banking and remittances, buy now pay later, expense and payroll management, youth banking, and financial empowerment. It is also “in active engagement” with the biggest banks in the region, the statement said.
Ex-Majid Al Futtaim payments head will lead Global Processing Services MENA operations
Payments expert Arnav Rath has been appointed Head of Region for the company’s MENA business. Rath has 18 years of experience in Cards as a Service (CaaS) and Payments as a Service (PaaS). He previously led the prepaid cards and payments business at Majid Al Futtaim across the Middle East, including innovative payments solutions for fintech in the UAE, Bahrain, Egypt and more.
Rath will be looking into partnerships with regulators, banks, fintechs and ecosystem partners for the company’s key markets. These include the UAE, Egypt, and Saudi Arabia, amongst others, the statement said.
Arnav Rath
“It’s incredibly exciting to be joining Global Processing Services and building on its longstanding reputation as a trusted and proven global payments processor at what is ultimately an inflection point for the MENA region’s fintech ecosystem.
Through the flexibility of Global Processing Services’ platform, its robust suite of products can be configured and tailored to the needs of specific groups, including the 68% of adults in the region who remain unbanked,”
Rath said.
Global Processing Services is a 2007-founded paytech company with offices in London, Newcastle, Singapore, Sydney and now Dubai. Last year, the company claimed to have processed over 1.3 billion transactions. It has issued 170 million cards since its founding, and its clients include Revolut, Curve, and Paidy.
Featured image: edited from Unsplash
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