A London-based Banking-as-a-Service (BaaS) provider has chosen its Qatar office as the regional headquarters for operations spanning the Middle East and North Africa. This strategic decision enables the organization to tap into the burgeoning digital payments market in the region.
This move coincides with projections that Qatar’s digital investment sector is set to reach a transaction value of $477 million by 2025. Additionally, the user base for digital payments in the country is anticipated to grow to 2.87 million by 2028.
The establishment of the Qatar office reflects the nation’s emergence as a hub for fintech innovation. The organization views the regional fintech landscape as offering significant opportunities for economic diversification, which aligns with advancements in Qatar’s digital economy.
Under the guidance of Country Leader Jordan A. Fabbri, the Qatar office is now operational and will primarily focus on deploying the BaaS Orchestrator platform across the MENA region. This platform is engineered to connect various core banking systems, payment processors, and third-party services through a modular framework, significantly lowering operational costs—by as much as 50%—associated with core banking, card issuing, and payment processing.
The expansion of operations aligns with initiatives set forth by the Qatar Central Bank and the country’s National Vision 2030 framework which underscores the need for economic diversification and technological development. An earlier office opening in Cairo, Egypt, further illustrates this growth strategy.
To enhance the service offerings, Fabbri highlighted that the BaaS Orchestrator platform will facilitate seamless financial product integrations for regional firms. Given the ongoing increase in digital payment usage in Qatar, the organization aims to strategically position itself to meet the rising demand for innovative financial services in the region.
In July, a partnership with Worldline, a prominent global payment services provider, was further expanded. This partnership, which began in 2022, centers on incorporating Worldline’s Issuing and Acquiring technical processing solutions to bolster digital payment services across the EMEA markets.
An executive at Worldline stated that having a forward-thinking and adaptable partner will enhance market agility. As Worldline continues to evolve its value proposition, it provides a plethora of innovations and solutions aimed at positioning the fintech company as a significant player in digital payments.
An integral aspect of this partnership includes a customizable solution for instant payment card issuance, which streamlines the online onboarding process. This facilitates a secure and efficient activation process for customers. Furthermore, on the acquiring front, the organization intends to utilize Worldline’s processing platforms, which manage over 3.5 billion transactions each year for a wide array of merchants across Europe.
By establishing the Qatar office as a strategic hub and deepening partnerships with established payment providers, the organization is poised to enhance its footprint and service offerings in the rapidly evolving financial landscape across the region. The focus on innovation, collaboration, and adaptation reflects a comprehensive approach towards meeting the anticipated demands of an increasingly digital economy.