Urway becomes first FinTech to get certified by Saudi Payments

By Leandra Monteiro

Urway, a Saudi Arabia-based FinTech, has obtained the Electronic Merchant Service Provider – Payment Technical Service Provider certificate (eMSP – PTSP #PTSP001) granted by Saudi Payments, to become the first FinTech to be certified after issuing the new regulations and rules of the payment sector in the kingdom.

The feature-rich platform allows online merchants to monetise their services and provide e-commerce websites with safe, reliable and seamless payment solutions, through online payment technology that connects them to the most popular payment schemes.

Ever since its foundation, Urway has played a pivotal role in revolutionising digital payment in KSA, which closely aligns with Saudi Vision 2030 Financial Sector Development Programme, to support the direction of the Kingdom towards a cashless society. It contributed to the flourishment of the e-commerce industry by offering various payment acceptance methods such as Mada, Visa, ApplePay, MasterCard and soon SADAD, providing them with a user-friendly platform with a smart dashboard that gives them real-time insights and full transaction visibility.

“We are all at Urway taking pride in this achievement. We are committed to continuing on the same path to ensure the best service possible to our clients. This certificate is recognition from Saudi Payments of our continuous efforts and commitment to comply with required standards and rules in the payment industry. We consider this recognition one step closer towards satisfying our clients, ensuring their payment security and strengthening our commitment to our bank partners and to the regulators,” said the CTO of Urway, Oulbaks.

Saudi Payments is the operator of the national payment infrastructure plan in the Kingdom of Saudi Arabia. The entity is a wholly-owned subsidiary of the Saudi Central Bank (SAMA), with the mandate to digitise the payment ecosystem in the kingdom, by providing the required standardisation to ensure all providers have a level playing field and offer secure and interoperable digital payment solutions.