Moyasar

About Moyasar

Moyasar Financial Company operates as a core component of Saudi Arabia's digital financial infrastructure. Founded in 2015 by Abdulaziz Alshetwi and Basem AlJedai, the Riyadh-based company provides an API-linked payment gateway for merchants. The firm was established by Saudi engineers who analyzed the market to build a financial framework tailored to local needs, aiming to simplify electronic payment solutions. Moyasar is licensed by the Saudi Central Bank (SAMA) and serves a wide array of businesses, from startups to large enterprises, by facilitating online payment transactions.

The company's primary offering is a payment gateway that enables merchants to accept various payment methods, including Mada, Visa, Mastercard, American Express, Apple Pay, and STCPay. Its services are designed for easy integration with websites, applications, and platforms through a unified API. Moyasar's platform includes features such as the generation of e-invoices, which can be shared via SMS, email, and social media, and a reporting dashboard for performance tracking. For SaaS platforms, Moyasar offers specialized features like instant merchant onboarding, dynamic Electronic Know Your Customer (E-KYC) processes, and customizable fee structures. Security is a significant aspect of their service, as evidenced by their PCI Compliance certification and the use of tokenization to protect sensitive card information.

The business model centers on providing comprehensive payment solutions that allow businesses to manage transactions digitally. This includes electronic payment portals, billing services, and subscription management. A key milestone for Moyasar was securing $21 million in a seed funding round in March 2024, with participation from investors like Derayah Ventures and Jahez. This funding is intended to support the development of new solutions for both private companies and government institutions. In June 2024, the company launched its Moyasar Payment Gateway (MPG), the first locally licensed and hosted gateway, which features a robust fraud protection system and supports recurring payments for digital wallets.