PAYFORT acquisition of White Payments to help empower new generation of entrepreneurs
June 29, 2015
White Payments applications will be integrated with PAYFORT’s to make it easier for start-ups to accept online payments
Dubai – 29 June 2015 – PAYFORT, today announced the acquisition of White Payments, a new online payments solution focused on providing easy-to-use online payment applications for start-ups and small businesses. 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.
“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 startup, to organizations with thousands of employees.”
PAYFORT has made online payments safe and secure for buyers and sellers across the Arab world, delivering a complete suite of payment solutions that are tailored to Arab online buying habits and trends. The company has forged relationships with banks across the region and today, PAYFORT supports credit/debit card payment, through globally recognized payment leaders such as American Express, CashU, MasterCard, and Visa.
Launched in 2014, White Payments was borne out of the common frustrations experienced by entrepreneurs and start-ups in the Arab world when trying to set-up online payment options for their customers. The company then developed a suite of plug-ins and APIs (Application Programming Interfaces) that allow online payment functionality to be integrated into websites within minutes, eliminating some of the key hurdles faced by the region’s entrepreneurs.
“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.”
PAYFORT offers a complete suite of safe and secure e-payment solutions that can cater to any small to medium enterprise (SME) or startup’s e-payment needs.
PAYFORT is the payment platform for the leading e-commerce websites across the Arab world — such as Souq.com, Dubizzle.com, Landmark, Jumbo Electronics , AirCairo, flynas, Air Arabia, Carrefour, and Tecom, to name a few.
“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.”