Global Processing Services (GPS) has announced the official launch of its Middle East and North Africa (MENA) office whilst having appointed Arnav Rath as Head of Region.
In the new strategy headquartered in Dubai, the team looks to focus on utilising its ‘global reach and payments expertise’ to help financial services providers and deliver local partnerships.
Joanne Dewar, Chief Executive Officer of GPS, commented: “We’re delighted to officially launch our presence in MENA, further expanding our global reach, and are excited to have Arnav lead our GPS team here as we expand our presence across the region.
“His unparalleled experience is key as we look to share our knowledge, experience and success around the world – forging new, strong partnerships with all regional ecosystem players in the weeks, months and years to come.”
The enterprise has issued over 170 million cards and last year processed more than 1.3 billion transactions through its platform.
The news comes at a time when adoption of alternative payment methods is gaining ground and the number of digital payment transactions are growing twice as rapidly than that of Europe’s, and the MENA fintech industry is predicted to be valued at $3.45 billion by 2026.
New appointment, Arnav Rath, noted: “It’s incredibly exciting to be joining GPS 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.”
Bringing 18 years of experience in the Cards as a Service (CaaS) and Payments as a Service (PaaS) spaces, Rath, who joins GPS from Majid Al Futtaim (MAF), is to help the company ‘realise its vision in the region’ and aid GPS in augmenting its offering in the region.
During his tenure at MAF, Rath led innovative payments solutions by offering end-to-end programme management to cater to the ‘wider fintech landscape’, including the UAE, Bahrain, Egypt and others.
“I am looking forward to working with financial institutions, banks, regulators, fintechs and ecosystem partners as we grow GPS’ position as the key enabler in the fintech ecosystem and a reliable provider of greater and improved access to financial services,” he added.