Singapore Fintech Eyes Middle East
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The acquiring business in Dubai is one of the first initiatives the firm has in the pipeline for the Middle East.
MoovPay has entered into a global’s exclusive partnership with China’s UnionPay International (UPI) for cross-border cashless payment services in the Middle East, the firm announced in a press release on Wednesday.
As part of the agreement, businesses in the Arab world will be able to use UPI’s range of payment methods, which are commonly used in China, to make payments through MoovPay’s online payment solutions.
«Our Dubai office will serve as a bridge between the Middle East and Asia Pacific, as well as a springboard for expansion into Europe, helping European merchants tap into both the Middle East and Chinese markets, particularly in e-commerce and mobile applications,» Moovpay CEO Ryan Gwee said about the firm’s ambitions in the region.
Questions & Answers
Q.Which specific business initiative has MoovPay launched in Dubai?
Which specific business initiative has MoovPay launched in Dubai?
MoovPay has established an acquiring business in Dubai. This is one of the first initiatives the firm has planned for the Middle East region.
Q.What is the purpose of MoovPay's partnership with UnionPay International?
What is the purpose of MoovPay's partnership with UnionPay International?
The partnership aims to provide cross-border cashless payment services in the Middle East. It allows businesses in the Arab world to use UPI's payment methods through MoovPay's online solutions.
Q.How does MoovPay intend to use its Dubai office for wider expansion?
How does MoovPay intend to use its Dubai office for wider expansion?
The Dubai office will act as a link between the Middle East and Asia Pacific. It is also intended as a springboard for expansion into Europe, helping merchants access Middle Eastern and Chinese markets.
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