First fintech in Saudi; Urway secures certification from Saudi Payments

By Amirtha P S, Desk Reporter
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Saudi Arabia
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Saudi Arabia-based fintech, Urway has secured the Electronic Merchant Service Provider – Payment Technical Service Provider certificate, which is awarded by Saudi Payments.

The certification makes Urway the first fintech firm in the country to be authenticated after issuing the new regulations and rules of the payment sector in the kingdom.

Since its inception, Urway has played a key role in revolutionizing digital payment in Saudi Arabia, which closely aligns with Saudi Vision 2030 Financial Sector Development Program, to support the direction of the Kingdom towards a cashless society. 

The platform enables online merchants to monetize their services and provide eCommerce websites with safe, reliable and seamless payment solutions, through modern online payment technology that connects them to the most popular payment schemes.

Urway contributed to the flourishment of the eCommerce industry by offering various payment acceptance methods such as Mada, Visa, ApplePay, MasterCard and soon SADAD, offering them a user-friendly platform with a smart dashboard that gives them real-time insights and full transaction visibility.

Abdallah Oulbaks
Abdallah Oulbaks
CTO – Urway

“We are all at Urway taking pride in this achievement. We are committed to continuing on the same path to ensure the best service possible to our clients. This certificate is recognition from Saudi Payments of our continuous efforts and commitment to comply with required standards and rules in the payment industry. We consider this recognition one step closer towards satisfying our clients, ensuring their payment security and strengthening our commitment to our bank partners and the regulators.”

Saudi Payments is the operator of the national payment infrastructure plan in Saudi Arabia. The entity is a wholly-owned subsidiary of the Saudi Central Bank (SAMA), with the mandate to digitize the payment ecosystem in the kingdom, by offering the required standardization to ensure all providers have a level playing field and offer secure and interoperable digital payment solutions.

Related: Qatar’s QIIB launches Apple Pay to promote contactless transactions


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