Saudi fintech Hala acquires Paymennt.com
Previously called PointCheckout, Paymennt.com is regulated by the Abu Dhabi Global Market’s (ADGM) RegLab, and has offices across the UAE and Jordan.
Saudi Arabia-based fintech, has acquired UAE-based payments service provider Paymennt.com, for an undisclosed amount.
With this acquisition, Hala will further enhance its product offerings by integrating digital payments, enable its SME customers to improve their online presence, as well as process omnichannel payments.
The platform has grown by over 250% in payment processing year-over-year, as per a press release shared by Wamda.
This is the second acquisition for Hala since its inception in 2018. Its first acquisition was of the Saudi startup Fresh in 2016, which is now called Hala cashier. It enables Hala to incorporate non-financial added value services to its SME customers.
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Previously called PointCheckout, Paymennt.com was co-founded by Bashar Saleh and Tarek Ghobar in 2017. It is regulated by the Abu Dhabi Global Market’s (ADGM) RegLab, and has offices across UAE and Jordan.
Paymennt.com caters to over 2,000 micro and small businesses by providing them with a platform to facilitate their offline-to-online journey. It provides an integrated online payment solution.
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Edited by Affirunisa Kankudti
