Previous Post
Conscious Living with Artisanal Homewear Line Beit RAMLA
Next Post
Noon Launches New Integrated Payment Solution for SMEs in Egypt

KSA’s Urway Becomes First Fintech Certified After New Regulations

The fully-integrated platform gives online merchants the power to monetise their services and offers a secure seamless payment solution for e-commerce websites.

In November of last year, Saudi Arabia put in place a number of new regulations and rules that overhauled the prior policies of the payment sector. The new payments law and services will have wide-ranging effects on the payments industry, introducing a new set of tools, procedures and rules that open the door to new opportunities. The first fintech to be certified following the new regulations is Saudi-based Urway, securing the Electronic Merchant Service Provider – Payment Technical Service Provider certificate (eMSP – PTSP #PTSP001) from Saudi Payments.

The fully-integrated platform gives online merchants the power to monetise their services and offers a secure seamless payment solution for e-commerce websites. Urway uses state-of-the-art e-payment technology that features the most popular payment schemes. 

The license and certificate was granted by Saudi Payment, the national payment infrastructure plan operator in the kingdom, a subsidiary of the Saudi Central Bank (SAMA). It was founded to aid in the digitisation of Saudi Arabia’s payment ecosystem, standardizing e-payment solutions for all businesses.