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PayerMax, a global payment solutions provider, has expanded into the Kingdom by establishing its regional headquarters in Riyadh. The company participated in the Regional Headquarters Program established by the Ministry of Investment and obtained the RHQ license this month.

PayerMax organized an event to celebrate the acquisition of the RHQ license and the inauguration of its regional headquarters in Riyadh on June 11 at the MISA office. This milestone marks a major step in PayerMax’s strategic plan to strengthen its presence in the region and contribute to the economic and technological development of the Kingdom.

The RHQ programme, a joint initiative of MISA and the Royal Commission for the City of Riyadh, is designed to enable and facilitate the ambitious growth plans of participating organizations in the region. The selection of PayerMax as one of the first companies in the National Technological Development Program launched by the Ministry of Communications and Information Technology further emphasizes the company’s technical expertise and commitment to innovation.

Present at the inauguration event was Alhassan Hamideldin, RHQ General Supervisor, who handles the expansion of multinationals through the RHQ Program in the Kingdom.

In his speech, Hamideldin said that MISA is particularly honored to see PayerMax expand its footprint in the Kingdom by establishing their regional headquarters here. “PayerMax is the first fintech company in Asia to do this. The Saudi government is fully committed to supporting the financial services sector, undergoing serious financial sector reforms that have unlocked the potential for exponential growth in fintech, of which PayerMax is a prime example,” he said.

“We are deeply honored to have the esteemed MISA host our RHQ inauguration ceremony, which demonstrates the government’s commitment to promoting a favorable business environment for innovative companies like PayerMax,” said Wang Hu, co-founder at PayerMax.

PayerMax’s commitment to the Kingdom and the region is a testament to its dedication to supporting economic and technological development through innovative financial solutions. With its comprehensive global payment solution, PayerMax plans to accelerate the adoption of digital payments by providing convenient, secure and faster payment methods, keeping in mind the evolving payment habits of users in the region.

“We are pleased to establish our RHQ in Saudi Arabia, which is a strategic move to strengthen our presence in the region and demonstrates our long-term commitment to Saudi Arabia and the surrounding region,” Hu said. “Our expansion into the Kingdom, accompanied by an improved payment infrastructure, will continue to attract prominent global companies, especially digital players originating from Asia in the gaming, e-commerce, social media and more sectors. This collective effort will further save our customers considerable cross-border transaction fees by providing them with a simple, secure, highly trusted and transparent payment interface.”

PayerMax’s vision aligns with Saudi Vision 2030, promoting financial inclusion, supporting economic diversification and enhancing user experience through digital payments.

The recent popularity of sports tournaments such as Gamers8 highlights the growing demand for innovative financial solutions in the Kingdom.

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