(MENAFN- NettResults) Dubai, UAE, 6 February 2024 – kevin., a trailblazing technology company revolutionizing the payments industry, proudly announces the opening of its new office in Dubai, marking a significant milestone in its global expansion. This strategic move into the Middle East, starting with the United Arab Emirates, aligns with kevin.'s mission to transform the payment landscape by offering cutting-edge digital alternatives to conventional card-based systems allowing consumers a pay-by-bank service.
The Dubai office is set to be the hub for kevin.'s regional operations. It will serve as a focal point for local talent and act as a showcase for kevin.'s pioneering payment solutions.
Innovative Approach to Payments in the UAE
Pavel Sokolovas, co-founder of kevin., emphasizes the significance of this expansion: “Dubai's dynamic economy and culture of innovation make it the ideal launchpad for our growth across the Middle East. We are introducing a groundbreaking payment scheme that challenges the traditional dominance of networks like Visa and Mastercard. Our white-label, brand-agnostic network is designed to allow companies to swiftly launch local payment schemes, enhancing efficiency and user experience while keeping users' preferred in-store payment experience and habits.”
Alexandra Pimshteyn, appointed as Managing Director for the Middle East, brings extensive experience in business development from top international firms. At kevin., she will lead the charge in regional expansion through strategic partnerships and assembling a team of local experts. “Our Dubai office is a key step in our ongoing collaborations with major acquirers and issuers in the region. There's a substantial demand for innovative payment solutions here, and we're addressing that by offering alternatives to the limiting international card schemes,” says Pimshteyn.
kevin.'s Roadmap: Expanding Beyond UAE
The company's next phase of expansion includes entering Saudi Arabia and other GCC countries. Currently, kevin. operates globally with hubs in Vilnius, Warsaw, Berlin, London, Amsterdam, and now Dubai.
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About kevin.
kevin. is a pioneering technology firm on a mission to revolutionize legacy payment systems. With a newly built infrastructure, kevin. makes transactions more efficient, secure, and convenient for both digital and physical sales. The company's multi-tenant payments acceptance network is white-label, brand-agnostic, and intermediary-free, offering partners complete control of their in-store payment processes. This empowers them to unlock greater value through new services, enhanced conversion rates, and strengthened customer loyalty.
The kevin. network redefines international payments, ensuring a seamless, secure account-to-account NFC payment infrastructure for POS terminals worldwide. This innovation offers a 'tap and go' experience, compatible with both Android and iOS devices, making international payments as familiar as local ones.
kevin. secured $65 million in Series A funding in May 2022. The round was led by Accel, with participation from Eurazeo and all existing investors, including OTB Ventures, Speedinvest, Open Ocean, and Global Paytech Ventures. Additional investors in the round include Harry Stebbings, Founder of 20VC, Ilkka Paananen, CEO & Co-founder of Supercell, Amitabh Jhawar, Ex-CEO of Venmo, and other angel investors.
Commitment to the Ecosystem
kevin.'s goal is to empower all players in the payment ecosystem, including banks, digital wallets, retailers, and others. The company enables these entities to launch their own independent non-card schemes or to expand their services by connecting with an existing network on the kevin. platform.
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