Riyadh - Sharikat Mubasher: GlobalPay, a UAE-based fintech company transforming digital payments and advancing financial services, announced that the Saudi technology entrepreneur and executive Abdulaziz Al-Salloum acquired a 10% stake in the company.

The transaction is part of GlobalPay’s strategy to strengthen its shareholder base and support regional growth and expansion across financial technology, digital payments, and integrated technology solutions, the fintech company said in a recent press release.

The acquisition agreement was signed in Egypt in the presence of Al-Salloum and Tamer Shawer, GlobalPay's CEO.

GlobalPay has a strong presence in Egypt, the UAE, and Saudi Arabia, serving as a regional platform that focuses on investments and technology solutions.

In Saudi Arabia, GlobalPay established GlobalPay KSA – Alam Al-Dafaa, an entrepreneurial company dedicated to developing fintech and digital payment solutions and supporting GlobalPay’s long-term presence in the Saudi market.

Commenting on the transaction, Shawer said: “Eng. Abdulaziz Al-Salloum’s entry represents an important addition to that journey. We are connecting what we are building in the UAE and Egypt with what we plan to establish in Saudi Arabia, while maintaining one fundamental principle: every expansion must be based on creating real value for the market and its customers, rather than simply increasing our geographic footprint.”

In turn, Ali Taha, chief business officer at GlobalPay, stated: “For us, this is more than an investment transaction. It is a partnership that we believe can create meaningful value in the next stage of GlobalPay’s journey. We are building a regional ecosystem connecting the UAE, Egypt, and Saudi Arabia, and Eng. Abdulaziz Al-Salloum’s technology experience and knowledge of the Saudi market add important strength to that vision.”

In the Egyptian market, GlobalPay operates through MasrPay, which focuses on developing digital payment acceptance and management solutions for merchants and businesses.