MontyPay has been awarded the prestigious “Payment Innovation of the Year” accolade at the eCommerce Expo 2024, held on September 18th in London.
MontyPay has been contributing to the payment landscape with cutting-edge solutions that meet the ever-evolving needs of global businesses, which culminated in this prestigious recognition.
The highly acclaimed eCommerce Awards, launched in 2007, celebrate excellence and innovation in the online retail space. Independently judged by industry leaders, these awards recognize commitment, creativity, and innovation across organizations of all sizes and geography.
“Winning the ‘Payment Innovation of the Year’ award reflects our team’s hard work and our relentless pursuit of excellence in payment solutions”,
commented Noel Moukheiber, General Manager of MontyPay.
“At MontyPay, our services go beyond payment processing, they offer tools for growth. Our real-time insights, coupled with our loyalty and lending programs, empower merchants financially and operationally.”
Launched in September 2021, MontyPay started with its Payment Gateway solution and has since expanded its portfolio to offer a comprehensive suite of payment services. The company’s dedication to merchant success is evident in its state-of-the-art features, including payment links, online & mobile checkout, smart routing, 24/7 customer support, merchant mobile app, real-time analytics, and AI-powered fraud management.
MontyPay’s development has been driven by close collaboration with merchants, resulting in innovative solutions such as a unified platform for online and in-store sales, Soft & Smart POS systems, self-service checkout solutions, and eCommerce web development services. The company has also introduced a point-based loyalty program and lending services that benefit merchants and customers alike.
On the company’s unique position in the market, Moukheiber stated:
“What truly differentiates MontyPay is our commitment to providing a unified solution with global reach. Our customers benefit from a single dashboard that offers real-time insights into all transactions, whether online or in-store, accessible via web and mobile devices.”
He added,
“With six offices worldwide and over 20 strategic partnerships, MontyPay covers more than 50 countries. We offer merchants with multiple global entities a simple integration, a single point of contact, and one comprehensive payment gateway. This global coverage empowers merchants to expand their operations across borders while enjoying competitive rates, superior support, and diverse payment methods.”
MontyPay’s effectiveness is evident in its impressive growth metrics. From 2023 to 2024, the company increased its merchant base by 53% and grew its transaction volume by 92%. The company continues to innovate, with recent launches including the Soft POS solution in September 2024, available in the UK, US, and Europe, which transforms smartphones into tap-to-pay terminals. MontyPay is also finalizing the integration of its QCheck self-service checkout solution with various restaurant management systems, aiming to provide a full end-to-end solution for the F&B sector.
MontyPay’s Expansion Strategy: Saudi Arabia Market
Looking ahead, MontyPay’s expansion strategy focuses on increasing its global coverage in terms of countries and payment methods. They are set to enter the Saudi Arabian market by establishing an office there, as KSA has proven to be a strategic part of the GCC region with immense potential, and countless business opportunities. The company’s goal is to facilitate merchant growth by providing advanced payment tools, access to real-time insights, and financial empowerment through its loyalty and lending programs.
As MontyPay continues to push boundaries in the payment industry, it remains committed to delivering innovative and transformative solutions that meet the evolving needs of businesses worldwide.
Featured image credit: MontyPay GM Noel Moukhaiber with his team accepting the award
