Riyadh - Sharikat Mubasher: Saudi fintech startup NearPay launched its 'NearPay Banking' platform, designed to empower financial entities and payment companies to operate and manage digital financial services.

According to the company, the new platform brings together merchant operations, payments, settlements, and other digital financial services within a single ecosystem.

From card issuance and embedded digital wallets to seamless checkout and instant payment, the NearPay Banking platform offers 186 features covering 31 operational fields. This includes the 'Acquiring' platform for customers, merchant dashboards, partners center, and wallet-as-a-service (WaaS).

The platform also integrates with the ‘Radar’ system to enhance security and compliance and detect fraud threats, thereby supporting the launch of financial products as well as service development and expansion.

NearPay provides Payment Infrastructure as a Service, bringing payments in-house securely and reliably. Its SoftPOS turns every NFC (near field communication) device into a secure payment terminal, eliminating the need for extra hardware.