THANK YOU FOR SUBSCRIBING
Banking CIO Outlook Weekly Brief
Be first to read the latest tech news, Industry Leader's Insights, and CIO interviews of medium and large enterprises exclusively from Banking CIO Outlook
Thaer M. Suleiman, CEOBeing aware of these concerns, CASHU stepped up to the challenge to make it easy for anyone to make secured payments online, and was the first alternative online payment method in MENA. It continued to grow and target individuals without bank accounts and credit cards in the MENA region, as well as global online store owners who wanted to deliver and sell their products in this raw region of the world.
In 2016, CASHU encountered a major milestone toward regulating its core business, migrating it to Singapore and getting approved to operate as Stored Value Facility by the Monetary Authority of Singapore (MAS).
In the same year, CASHU started partnering with reputable banks and financial institutions in the region, like Mastercard and Noor Bank in the United Arab Emirates, to issue the first prepaid virtual card in the region approved by the Central Bank of UAE, which gave CASHU a legal approval to operate in the United Arab Emirates as a FinTech company.
CASHU also obtained necessary licenses and permits in several countries as a payment service provider and technology provider, and is still in contact with many central banks and regulators in the region to continue its mission in a dynamic and responsive manner to each market, taking into account the continued development of existing services and launching new services that achieve the vision of CASHU of a cashless society.
CASHU is driven by its vision to lead this dynamic, young and exponentially growing region toward a cashless lifestyle and financial inclusion
At the core of CASHU’s value proposition is its unique e-wallet platform that provides a bouquet of low-cost and smooth services, which include online shopping through both the e-wallet itself and the prepaid virtual Mastercard, bill payments, money transfer, remittance and more. CASHU has emerged as the only player to cover all countries in the MENA region.
With such high values to offer, CASHU has succeeded in achieving a business growth of 480 percent year over year. The company’s services have proved to be very beneficial, specifically to the MENA region where societies suffer from the lack of convenient and easy payment and financial solutions.
Today, CASHU is considered the largest FinTech company in the MENA region, serving around 3 million consumers with accessible online payment services that are protected by robust and sophisticated anti-money laundering systems. As for the future, CASHU is advancing to march ahead on its mission of “ultimate mobilization,” providing secure and innovative payment solutions that simplify lives.
|
Share this Article:
Tweet
|
Company
CASHU
Headquarters
Dubai, UAE
Management
Thaer M. Suleiman, CEO
Description
CASHU made it easy for anyone to make secured payments online, and was the first alternative online payment method in the Middle East and North Africa (MENA) region. It continued to grow and target individuals without bank accounts and credit cards in the MENA region, as well as global online store owners who wanted to deliver and sell their products in this raw region of the world. At the core of CASHU’s value proposition is its unique e-wallet platform that provides a bouquet of low-cost and smooth services, which include online shopping through both the e-wallet itself and the prepaid virtual Mastercard, bill payments, money transfer, remittance and more
