Co-founded in 2020 by Nader Abdelrazik (CEO), Mustafa Eid (CTO), and Anisha Sekar (former CPO), MoneyHash emerges as a payment orchestration platform simplifying payment processes for merchants across the MEA region through its unified payment APIs.
Merchants and businesses frequently engage with multiple payment providers to ensure seamless platform operations. However, integrating numerous payment solutions poses various challenges, including technical complexities, operational inefficiencies, and delays. In the MEA region, endemic challenges such as currency disparities, diverse payment methods, and national isolation exacerbate these setbacks.
MoneyHash claims to address these issues with its unified API, enabling merchants or companies to integrate pay-in and pay-out rails, customize checkout processes, leverage transaction routing capabilities, and access a transaction reporting center. Additionally, the platform offers tools for virtual wallets, subscription management, and payment links.
Abdelrazik underscores that 10% of all MEA region payments are digital, highlighting MoneyHash’s unique position and its potential to seize the forthcoming mass payment digitalization opportunity. To navigate the region’s budding payment market effectively, MoneyHash acknowledges the importance of patience, consistent efforts, and a commitment to learning.
Reflecting on MoneyHash’s strides with merchants over the past year, Abdelrazik notes, “Businesses appreciate the extensive integration network we have, not just for coverage but for expertise. When they realize that we executed all these integrations in-house, they value the team’s expertise and depth of knowledge and leverage our team to tackle challenging payment inquiries. They understand that partnering with us ensures future-proofing.”
According to the fintech, 50 active paying customers utilize its platform without a free tier offer. Its SaaS and transaction fees initiate at $500 + 0.4%. As enterprises expand, SaaS fees increase while transaction fees decrease. Abdelrazik explains that this variance is attributable to volume.
Regarding the investment, Amir Farha, Founder and General Partner at COTU Ventures, expresses confidence in MoneyHash’s platform’s capacity to unlock the full potential of digital payments in the region.
Source: Techpoint