Each country in the MEA region features a plethora of payment providers and methods, driven by evolving regulations and diverse consumer preferences. Merchants face significant hurdles, including high fraud rates, low checkout conversion rates, and transaction failures that far exceed global norms.
- Payment Orchestration as a Solution: Payment orchestration platforms, like MoneyHash founded by Nader Abdelrazik, Mustafa Eid, and Anisha Sekar, aim to streamline the process with unified payment APIs. MoneyHash, after raising $4.5M in seed investment, plans to enhance its technology and regional growth.
- Investor Line-Up: The funding round was co-led by COTU Ventures and Sukna Ventures, with participation from RZM Investment, Dubai Future District Fund, VentureFriends, and a group of strategic investors and operators.
- The Unique Position of MoneyHash: As digital payments account for 10% of all transactions in the MEA, MoneyHash is poised for growth amidst the region’s digital payment expansion.
- Merchants and Payment Complexity: Initially partnering with one or two payment providers, merchants need more as they expand. MoneyHash simplifies this with a unified API offering pay-in and pay-out rails, customizable checkouts, and fraud optimization tools.
Aligning with payment service providers, MoneyHash caters to enterprises by prioritizing customer needs, thereby securing its place as a strategic partner for businesses aiming to future-proof their operations.
