Paymennt.com, previously called PointCheckout and established in 2017, is a payment service provider, regulated by the Abu Dhabi Global Market’s RegLab, and with offices across UAE and Jordan. Paymennt.com serves more than 2,000 micro and small businesses through offering them a platform to support their offline-to-online journey along with an integrated online payment solution and has managed to grow by over 250% in payment processing year-over-year, as per the press release.
This acquisition will allow HALA to further enhance its product offerings by incorporating online payments, enabling its SME customers to increase their online presence and process omnichannel payments both offline and online.
This is the second acquisition for HALA since its inception, the first of which was the acquisition of the Saudi startup ‘Fresh’ in 2021, which is now called HALA cashier and which currently enables HALA to integrate non-financial added value services to its SME customers, a key pillar of HALA’s strategy aimed at building a one-stop shop for SME’s.
Commenting on this development, representatives from HALA said that the reason for the acquisition was a shared vision Paymennt.com was building a complementary product that clearly fits within their strategy. With more to come, this is their first endeavour outside their homeland and is the first block towards executing their global vision. They believe integrating the offering of Paymennt.com with that of HALA will provide a major added-value for customers in Saudi and in UAE.
HALA is one of the fintech companies in the region with its holding company in UAE and its headquarters in Saudi Arabia. HALA currently serves more than 50,000 SME’s mainly in Saudi Arabia and processes more than USD 3 billion worth of annualised transactions. HALA enables entrepreneurs and SMEs to start, run, and grow their businesses with cutting edge financial solutions and digital tools.
Paymennt.com is an online payment platform that enables small and medium merchants to process online payments through payment links, ecommerce payments, QR code payments, subscriptions, and API integrations. Paymennt.com is regulated by Abu Dhabi global Market and has over 3000 clients in the UAE.
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