Hala, a Saudi FinTech company, has acquired Paymennt.com, a micro- and small-business-focused online payment processor from the UAE.
More than 2,000 micro and small businesses are served by Paymennt.com, formerly known as PointCheckout and founded in 2017, from its offices in the UAE and Jordan. The global pandemic has prompted a 250% increase in year-over-year growth in the company’s payment processing volumes, which is regulated by the RegLab of the Abu Dhabi Global Market. Since the company’s founding in 2018, Hala has made a total of two acquisitions.
The company bought Fresh, a Saudi POS startup with an Android-based smart ERP system for store management intended for small- and medium-sized businesses in the retail industry, in 2021.
Read More: Saudi fintech Hala acquires Paymennt.com
