Payermax obtains a license from Ministry of Investment to establish its regional headquarters in Riyadh

The Ministry of Investment announced that Payermax, a global provider of digital payment solutions, has obtained a license from the Regional Headquarters (RHQ) program to establish its regional headquarters in Riyadh, as the company is one of the first companies in the National Information Technology Development Program launched by the Ministry of Communications and Information Technology.

Al-Hassan Hamid Al-Din, General Supervisor of the Regional Headquarters Program, explained at the ceremony for Payermax obtaining a license to establish a regional headquarters in Riyadh, that Payermax is the first Asian company in the field of financial technology to expand its presence in the Kingdom of Saudi Arabia by establishing its regional headquarters in Riyadh.

Hamid Al-Din stressed the Saudi government’s commitment to supporting the financial services sector, after it implemented serious reforms in the financial sector, which opened huge potential for growth in the field of financial technology, of which PayerMax is a prime example, noting that the Regional Headquarters (RHQ) program is an initiative. A joint venture between the Ministry of Investment and the Royal Commission for the City of Riyadh, it was created as part of the Kingdom’s Vision 2030 and the National Investment Strategy, and aims to enable and facilitate the ambitious growth plans of participating institutions in the region.

In turn, Wang Hu, co-founder of Payermax, extended his thanks and appreciation to the Ministry of Investment for hosting this ceremony, considering it clear evidence of the commitment of the Government of the Kingdom of Saudi Arabia to strengthening the business environment that supports innovative companies. He expressed his happiness at establishing the company’s regional headquarters in Riyadh, considering that this the strategic step represents an exceptional opportunity to strengthen the company’s presence in the Kingdom, one of the most important markets in the region.

Wang stressed that the establishment of this regional headquarters comes within the framework of the company’s long-term commitment to developing innovative solutions that make it easier for companies and individuals to conduct their business, contribute to simplifying payment procedures, and seamlessly integrate financial services into daily life in the Kingdom and the entire region, in addition to further strengthening the company’s presence in the region. This is a vital market.

He expressed his confidence that the expansion of Payermax’s business in the Kingdom, accompanied by an advanced payment infrastructure, will contribute to attracting more prominent international companies, especially Asian digital companies operating in the sectors of games, e-commerce, social media, etc., pointing out that this joint cooperation will provide our customers with an interface. Easy, secure and reliable payment saves cross-border transaction fees.

The establishment of PayerMax, its regional headquarters in Riyadh, comes within the framework of its strategic plan to enhance its presence in the region, effectively contribute to the economic and technological development of the Kingdom, and its commitment to providing safe and effective digital payment solutions for companies and individuals, which contribute to the development of digital payment solutions in the Kingdom, enhance financial inclusion, and support the Kingdom’s plans. To diversify the economy and improve the user experience, in line with the goals of the Kingdom’s Vision 2030, at a time when the Kingdom is witnessing a significant growth in demand for innovative financial solutions, especially with the increasing popularity of electronic gaming tournaments, such as the Gamers8 festival for games and electronic sports in the world, which is held annually in The city of Riyadh, and the company is aware of this growing trend, and believes that there are tremendous opportunities for the growth of the financial technology sector in the Kingdom in the coming years.

It is noteworthy that “PayerMax” company provides comprehensive global payment solutions, aiming to accelerate the adoption of digital payments, and provide convenient, safe and fast payment methods that meet the evolving needs of users in the region. The company looks forward to playing a major role in shaping the future of the financial technology sector in the Kingdom, and further developing its operations. Through its new regional head office in Riyadh.

The company has a proven track record in providing innovative payment solutions to companies around the world, and its entry into the Kingdom and the region represents an important strategic step to support the rapidly growing digital market in the region. The company expects that its new regional headquarters will significantly expand the scope of its customers and open broad horizons for growth opportunities. Unlimited, and providing innovative payment solutions that meet the evolving needs of the Saudi market.