HALA acquires UAE’s payment start-up, Paymennt.com

By Leandra Monteiro

The fast-growing Saudi Arabia-based regional FinTech, HALA announced that it has acquired Paymennt.com.

The 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.

HALA had made progressive leaps within the FinTech industry ever since it commenced its operations in 2018, with a clear focus on serving SMEs. The company witnessed significant growth in 2022 by doubling its customer base and its revenues year over year.

Maher Loubieh, Co-Founder, HALA said, “We are excited to welcome Paymennt team to our family to join us in executing our shared vision. The trigger was simple, we met smart entrepreneurs who share a similar vision and who are building a complementary product that clearly fits within our strategy. With more to come, this is our first endeavor outside our homeland and is the first block towards executing our global vision. We believe integrating the offering of Paymennt.com with that of Hala will provide a major added-value for our customers in Saudi and in UAE”.

Terming the acquisition as one major step forward for SME payments, Bashar Saleh, Co-Founder and Chief Executive Officer, Paymennt.com said, “It’s a privilege to join a key player in the region’s FinTech ecosystem, one that shares our commitment and passion to cater to the needs of SMEs. We are very proud of what our team has achieved to date, having gained the trust of our merchants in processing their payments. Now, being part of the HALA family, we can better serve our customers and grow across the Middle East and beyond.”

Paymennt.com, previously called PointCheckout established in 2017 is a payment service provider, regulated by the Abu Dhabi Global Market’s RegLab, and with offices across UAE and Jordan.