Bahrain Attracts Indian Fintech Giant Pay10 with New Payment Service Provider License
The Kingdom of Bahrain has further solidified its position as a regional fintech hub, with the Central Bank of Bahrain (CBB) granting a "Payment Service Provider" license to the leading Indian payment solutions company, Pay10. The move marks Pay10's strategic entry into the MENA region, establishing Bahrain as its hub for regional operations.
A Strategic Win for Bahrain's Fintech Ecosystem
Attracting a major international fintech company like Pay10 is a significant achievement for Bahrain and a testament to its forward-thinking regulatory environment. The Kingdom has been actively working to create a welcoming ecosystem for financial technology companies, offering a sophisticated regulatory framework and a strategic gateway to the multi-billion dollar GCC market.
Pay10 to Launch Comprehensive Payment Solutions in MENA
With this license, Pay10 is set to offer a wide range of its payment processing solutions to businesses in Bahrain and the wider region. The company is known for its comprehensive suite of products, including online payment gateways, point-of-sale (POS) solutions, and other digital payment technologies that help merchants accept payments seamlessly across various channels.
Leadership on Choosing Bahrain as a Regional Hub
Pay10's leadership highlighted Bahrain's supportive environment as a key factor in their decision. The clarity and pro-innovation stance of the Central Bank of Bahrain, combined with the Kingdom's strategic location, make it an ideal launchpad for accessing the entire Middle East market. This move underscores the success of Bahrain's efforts to position itself as the destination of choice for leading global fintech firms.
About Pay10
Pay10 is a leading financial technology company headquartered in India. It provides a comprehensive suite of digital payment solutions to businesses of all sizes, enabling them to accept and process payments securely and efficiently.
Looking Ahead
The entry of Pay10 into the Bahraini market is expected to increase competition and innovation within the local payments sector, ultimately benefiting merchants and consumers. This development reinforces Bahrain's reputation as a key fintech gateway to the MENA region, aligning with the country's long-term strategy to diversify its economy and grow its financial services industry.
Source: Zawya