Payfort, a leader in online remittances, has acquired White Payments, a new online payments solution focused on applications for start-ups.

Payfort will use White Payments’ platform to create a new program to allow start-ups and small businesses fast-track their online payment options.

“The payment industry is very young in the region and as it moves from cash society to cashless society there are a lot of opportunities to be explored the team at White Payments has focused on removing the obstacles for entrepreneurs and start-ups to accept payments online, with fantastic results,” said Omar Soudodi, managing director of Payfort.

“Start-ups have special requirements and constraints when it comes to setting up an online payment process. White Payments has developed a great product offering to help meet these challenges and we look forward leveraging these to create a new Payfort solution called ‘START’,” he added.

“Starting an online business is really hard and we built White to make it easier, by breaking down some of the barriers facing entrepreneurs,” said White Payments founder Yazin Alirhayim.

“While Payfort has a strong A-list of large customers across the region, from airlines to governments, White was built with new merchants in mind, with a particular focus on start-ups. By joining Payfort, White will be able to reach out to a region-wide market and grow super-fast. It’s the perfect fit and   we’ll able to work together to attracting and keeping great clients of all sizes -- from the one-person start-up, to organizations with thousands of employees.”

“The move to seek out start-ups that can enhance Payfort’s offering is a deliberate one,” added Soudodi. “In the future, we hope that we’ll see entrepreneurs coming to Payfort and pitching their ideas to improve the region’s payment industry. We are open to both partnerships and acquisition, and are working towards building an eco-system of payment applications.”    

“The region has struggled with online payment solutions for many years, and this provided the motivation for our whole business,” said Pavel Gabriel, CTO of White Payments.
“Typically, entrepreneurs have been forced to ‘jump through hoops’ to qualify for and install enterprise level financial applications that they don’t really need in the early stages of their business, simply in order to accept payments online. We’re changing all that and, through Payfort, we’ll be making our solutions throughout region.”

“Ecommerce businesses rely on Payfort to manage their payment processes, so they can focus on their core business and operations,” said Soudodi. “The acquisition of White Payments will allow us to extend our solutions to an even wider customer base and empower thousands of entrepreneurs across the region to accelerate their businesses by harnessing online payment technology.”- TradeArabia News Service