UAE based Blockchain payments platform WadzPay in final stages of licensing and live testing of payments solution in KSA
In a recent tweet,
the Founder of WadzPay, a blockchain
technology payment provider with a presence in the UAE, Anish Jain, offered an
update to the community stating that WadzPay had made strides on the licensing
front and are in the “final stages". In addition he added that WPC token would
be listed on a Tier1 regulated exchange in the Middle East.
As for the WadzPay product it will be ready for launch in Q3 of this
fiscal year with live terminals on WadzPay soon.
Prior to this in a LinkedIn post,
WadzPay announced that its blockchain enabled payments platform was now technically
live for Pilgrims in Saudi Arabia. The solution is intended to facilitate
digital payments and creates a cashless experience in KSA.
As per the announcement, WadzPay works with large payment companies,
banks, and global entities to enable virtual asset-based transaction processing
and settlement.
Their private blockchain program will enable pilgrims to use mobile
app-based wallets issued by an approved institution in their home country. Once
the wallet is loaded before travel, the user can make purchases at the merchant
POS terminals present at the various pilgrimage points. The solution is
intended to facilitate digital payments and creates a cashless experience in
Saudi Arabia.
The pilgrims can easily get their un-spent money back after they
return to their home country.
Using this platform, WadzPay allows merchants to offer improved
service to international pilgrims at a fraction of the current cost.
This program will be used for issuing wallets to pilgrims and
acceptance of these wallets in merchant outlets in KSA. As per WadzPay brochure,
“We have partnered with a major aggregator from KSA to enable the world's first
cross-border ‘cashless’ Hajj & Umrah program”. In November 2021 WadzPay had
partnered
with Geidea in KSA for cashless payments.
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