Orchestration network Damisa has announced the launch of local payment rails and on- and off-ramp services across six Gulf Cooperation Council (GCC) markets.
Through this move, Damisa seeks to optimise access to the digital economy for businesses and individuals across the region. Effective as of the announcement, partners can enable instant and simplified transactions in native GCC currencies, directly through local bank accounts, mitigating traditional cross-border issues and banking delays.
Among the supported currencies, Damisa mentions the Bahraini Dinar (BHD), Omani Rial (OMR), Qatari Riyal (QAR), Saudi Riyal (SAR), UAE Dirham (AED), and Kuwaiti Dinar (KWD).
Facilitating cross-border commerce across the GCC
The rollout of the new local payment rails and on-and-off ramp services focuses on strengthening Damisa’s position as a facilitator of cross-border trade and financial progress in the region, helping clients operate more efficiently and securely. As explained by the company’s representatives, the launch is a fundamental step in its commitment to optimise asset and data transfers worldwide. Additionally, by integrating directly with local financial systems across the GCC, Damisa aims to eliminate complexities that have historically delayed international payments. Through local payment rails and on-and-off-ramp capabilities, the company enables its partners to transact in native currencies instantly without facing delays and high FX fees typically associated with cross-border payments.
Besides local rail services, Damisa’s platform provides a comprehensive solution for global financial operations, including cross-border payments, international collections, global payouts, and escrow services. These offerings are delivered via Damisa Connect, an API-enabled gateway that gives clients access to local partners and enables transactions in 25 currencies with full compliance and automation.
Furthermore, with this launch, Damisa seeks to help local and international businesses enter new markets, simplify their operations, and participate in the digital economy with more transparency and trust.
