EdfaPay Secures Financial Payment Solutions License in Tunisia, Expanding African Presence

EdfaPay, a leading technicalpayments startup, has achieved a significant milestone in its African expansion plans by obtaining a license for its financial payment solutions in Tunisia. The license was secured through EdfaPay's subsidiary, WePay, in partnership with We Settle. This strategic move positions EdfaPay to deliver integrated payment solutions that align with global market demands and promote advanced technological payments in the region.

Why this matters: This expansion into Tunisia marks a significant step towards increasing financial inclusion in Africa, where access to digital payment systems is still limited. As EdfaPay continues to grow its presence in the region, it has the potential to drive economic growth and improve the lives of millions of people.

The startup's successful track record includes obtaining licenses from major global payment companies such as Visa, MasterCard, and American Express. With the necessary approvals in place, EdfaPay is set to launch its service in Tunisia in May 2024, coinciding with the signing of contracts with clients from Tunisia and Morocco.

WePay, EdfaPay's arm in Tunisia, will introduce and develop a range of fintech products, including checkout and SoftPoS solutions. Additionally, WePay International, a cross-border payment service for residents abroad, will be part of the offerings. These solutions are designed to cater to the evolving needs of consumers and businesses in the region, providing them with seamless and efficient payment options.

Ghormallah Al Ghamdi, founder and CEO of EdfaPay, expressed his satisfaction and optimism regarding the company's regional expansion, stating,"I am pleased and delighted 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 realization of this goal, thanks to the guidance and efforts of our wonderful team and the support of the Kingdom of Saudi Arabia."

Naima Mawla, general director of WePay, echoed Al Ghamdi's sentiments, emphasizing the significance of obtaining the financial payments license in Tunisia. "We are proud of this achievement and obtaining the financial payments license in line with our ambitions, which enhances WePay's local and global goals and objectives, anchored by pioneering and talented Arab and regional competencies," she remarked.

The expansion into Tunisia marks a new chapter for EdfaPay as it sets its sights on further growth in African and European markets. The company remains dedicated to its ambitious vision of enhancing thefintech payments experiencefor consumers worldwide. With a strong foundation and strategic partnerships, EdfaPay is well-positioned to tackle the challenges and opportunities that lie ahead in the rapidly evolving fintech ecosystem.

EdfaPay's entry into the Tunisian market demonstrates its commitment to driving innovation and financial inclusion. By leveraging innovative technology and collaborating with local partners, the company aims to empower businesses and individuals with secure and efficient payment solutions. The successful acquisition of the financial payment solutions license in Tunisia not only strengthens EdfaPay's presence in the region but also sets the stage for future expansions and collaborations as it continues to make strides in reshaping the way people and businesses transact, both locally andglobally.

Key Takeaways

• EdfaPay obtains license for financial payment solutions in Tunisia.
• This expansion promotes financial inclusion in Africa, where digital payment access is limited.
• WePay will introduce fintech products, including checkout and SoftPoS solutions, in Tunisia.
• EdfaPay plans to launch its service in Tunisia in May 2024, with contracts signed with clients from Tunisia and Morocco.
• This expansion marks a significant step in EdfaPay's growth in African and European markets.