EdfaPay, a technical payments startup, has obtained a licence and approval for its financial payment solutions in the Tunisian market through its ‘WePay’ arm.
Through the approval, WePay’s platform emerges as a fusion of Saudi Arabia’s EdfaPay and Tunisia’s WePay, leveraging the expertise of both entities. This expansion aims to deliver integrated payment solutions that align with global market requirements and enable the adoption of advanced technological payment methods in the region.
This strategic move further solidifies EdfaPay’s ambitions for expansion into the African market. Prior to obtaining local Tunisian authentication, the company had secured licences from global payment giants, including Visa, MasterCard and American Express.
Ghormallah Al-Ghamdi, Founder and CEO of EdfaPay, said: “I am pleased and proud to announce the future of this regional expansion. As EdfaPay has always been, it aspires to achieve distinguished successes and enhance its global presence, and this expansion is a realisation of this goal thanks to the guidance and efforts of our wonderful team and the support of the Kingdom of Saudi Arabia.
“We succeeded in achieving this strategic cooperation, which promises to open new doors to our uttermost goal of worldwide expansion.”
With preparations underway, the startup is poised to launch its services in May, coinciding with the announcement of several signed contracts with clients hailing from Tunisia and Morocco.
Marking a pivotal moment in EdfaPay’s global expansion, WePay will play a crucial role in introducing and refining fintech products such as checkout and SoftPOS. Additionally, the collaboration will bring forth WePay International, a cross-border payment service.
Naima Mawla, General Director of WePay, commented: “We are proud of this achievement and obtaining the financial payments licence in line with our ambitions, which enhances WePay’s local and global goals and objectives, anchored by pioneering and talented Arab and regional competencies.
“We are proud of what we have achieved so far as it resulted in this distinguished launch of WePay services, and we confirm that this is the beginning of an ambitious successful journey with innovative financial services that meet local, regional and global requirements.”
This move comes at a time of unprecedented growth in the Saudi fintech industry, with PayTabs Group recently leading the charge as it integrated key national payment methods in the Kingdom to complete its Payment Orchestration Platform.
