Ooredoo Fintech, Paypal Announce 'First-Of-Its-Kind Fintech Partnership' In GCC
Date
11/19/2024 2:02:03 PM
(MENAFN- Gulf Times) Ooredoo Fintech and PayPal have announced a new strategic partnership that enables their Ooredoo Money users in Qatar to "seamlessly" transfer funds between their wallets and PayPal accounts, and access PayPal's global commerce capabilities.
This collaboration marks the first time global payments leader PayPal has partnered with a mobile money fintech in the GCC region.
Through this partnership, Ooredoo Money's consumers and small businesses in Qatar gain seamless access to global markets. Consumers can shop directly with PayPal's worldwide Network of merchants and enjoy the flexibility to transfer funds between their PayPal and Ooredoo Money wallets. Small businesses can efficiently reach new international customers, enhancing their global reach.
“Our vision is to make sending money between cross-border digital wallets as easy as possible, removing unnecessary friction and delays,” says Otto Williams, PayPal's Regional Head and General Manager for the Middle East, Africa and CIS.
“Our partnership with Ooredoo Fintech will help us expand access to PayPal's global network, connecting Qatar consumers with millions of merchants around the world who accept PayPal. We are excited to launch our joint services with Ooredoo Money in Qatar early next year.”
Sheikh Ali Bin Jabor al-Thani, Chairman, Ooredoo Financial Services and Chief Executive Officer of Ooredoo Qatar said,“Our collaboration with PayPal strengthens Ooredoo Fintech's role as a gateway to the global economy for Qatar's SMEs and consumers. This partnership allows us to offer unmatched access to international markets and payment solutions, helping small businesses in Qatar reach new customers abroad while enhancing the digital shopping experience for local consumers. Together, we're building a fintech ecosystem that aligns with Qatar's vision for economic diversification and digital empowerment.”
“Our collaboration with PayPal represents a significant step toward extending our services to new markets across the region,” said Mirko Giacco, Group Chief Executive Officer of Ooredoo Fintech.“We're excited to expand this partnership beyond Qatar to empower consumers and businesses across the Gulf and Mena region with advanced financial capabilities, further strengthening our position as a regional leader in fintech innovation.”
This partnership represents a key milestone for both Ooredoo Fintech and PayPal. Aiming to enhance cross-border commerce with an initial launch in Qatar, the partners plan to expand these services across the region, empowering more consumers and businesses with advanced financial capabilities and global connectivity.
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