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CredoPay, a Chennai-based neo-banking and unified payment acquiring solution provider, announced its entry into the Middle East market under the brand name SalisPay.
In a press release, the company said it launched its services under the brand name SalisPay in Muscat, Oman last week through a joint venture with Oman Computer Services LLC, a wholly-owned subsidiary of Oman’s largest business conglomerate The Zubair Corporation (TZC).
SalisPay will be a one-stop solution for unified acquiring, multi-channel payment processing and connected banking solutions to banks, neo-banks, payment facilitators, merchant acquirers, fintech companies and ISOs in the Middle East, the company added.
Joint venture
“This joint venture with TZC, the largest business house in Oman with presence and influence across the Middle East, will help us capture the market in the Middle East,” Dore Swamy, Cofounder and CEO, CredoPay, said in the statement.
CredoPay said it currently has a base of 75,000 merchants. The platform claims to process five million transactions per month worth ₹700 crore. The cumulative Gross Purchase Value of all the transactions on the platform till now stands at ₹7,200 crore.
Prior to the Middle East, CredoPay had operations in India, South Africa, Latin America and Sri Lanka. The company said it has plans to expand to North America, South East Asia and Africa in the coming years. Earlier this year, CredoPay raised a Pre-series A round of $5 million from EzSwype LLC and Zent International Ltd.
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