Hala plans to enhance its product offerings by incorporating online payments, offering small and medium-sized enterprises (SMEs) the option to increase their online presence and process omnichannel payments both offline and online.
Hala has acquired UAE-based payments start-up Paymennt.com for an undisclosed sum.
Integrating the offering of Paymennt.com with that of Hala will provide a major added-value for our customers in Saudi and in UAE.
Paymennt.com provides online payment services to more than 2,000 micro and small businesses and is regulated by the Abu Dhabi Global Market’s RegLab.
Hala is one of the first fintech start-ups from Saudi Arabia to receive a full license from the central bank. It provides financial services to SMEs in the region, claiming to serve over 50,000 businesses in the kingdom, and processing more than $3 billion in annualized transactions.