TESS Payments has secured a PSP License from the Qatar Central Bank in a move that allows the firm to provide payments services in the jurisdiction.
This achievement aligns perfectly with the latest business regulations for payment service providers issued by the country’s central bank in May 2024, aligning with Qatar National Vision 2030.
Akurateco offers white-label payment solutions
The firm met Qatari’s stringent regulatory requirements by partnering with Akurateco, a global payment software provider which performed an on-premise setup of its software Microsoft Azure Cloud.
Additionally, Akurateco facilitated TESS Payments’ obtaining the Payment Card Industry Data Security Standard (PCI DSS) certification.
Akurateco is a global payment software vendor that offers ready-to-use PCI DSS-certified white-label payment solutions to merchants, payment providers, and financial institutions worldwide.
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The platform is equipped with the latest payment technologies, including intelligent payment routing, cascading, automated merchant onboarding, advanced payment analytics, and others.
With over 350 integrated banks and payment providers, Akurateco’s platform enables clients to leverage an extensive network of traditional and alternative payment methods, including local and global ones.
Equiti Group enters Qatar
The fintech industry has been eyeing Qatar as of late. Equiti Group recently announced it has signed a Memorandum of Understanding (MoU) with Qatari holding company, MK Enterprise, in order to foster innovation and drive meaningful growth in Qatar by providing access to world-class solutions for the capital markets.
With offices in London and abroad, and offering 7 regulatory licenses to support their global client base, Equiti’s innovative and encompassing fintech portfolio focuses on delivering intuitive and deeply advanced solutions, including decentralized digital asset exchanges, physical commodities, and advanced payment solutions.
MK Enterprise Holding will facilitate Equiti’s access to the Qatari market as the country continues to modernize its financial industry. The Qatar-headquartered holding company enables economic development locally and globally with a specific focus on the business and markets of Qatar, GCC, the region, and the world.
Equiti Group was designed to globally deliver world-class standards in payment solutions, digital assets, and online trading technologies. With a resolute commitment to innovation, Equiti focuses on propelling growth through agile tech solutions and a regulation-first mindset.
