Partnership13 Mar 2024, 03:00 pm
Infibeam Avenues First Indian Payment Gateway to Secure SAMA Approval, Signs MOU with Saudi Awwal Bank
AI Summary
Infibeam Avenues, a listed fintech company, has become the first Indian payment gateway player to secure eMSP Payment Technical Service Provider Approval from SAMA in Saudi Arabia. The company's subsidiary, Infibeam Avenues Saudi Arabia, will now operate as a Payment Processor, positioning CCAvenue as a significant player in the Saudi Arabian market. Infibeam Avenues expects to capitalize on the market's exponential growth potential and contribute to the Kingdom's 2030 Vision.
Key Highlights
- Infibeam Avenues becomes the first Indian payment gateway player to secure eMSP Payment Technical Service Provider Approval from SAMA
- Company's subsidiary, Infibeam Avenues Saudi Arabia, will now operate as a Payment Processor
- CCAvenue will position itself as a major payment gateway player in the Saudi Arabian market
- Infibeam Avenues aims to capitalize on the market's exponential growth potential and contribute to Saudi Arabia's 2030 Vision