'TotalPay' strengthens GCC presence with SAMA approval to Operate in Saudi Arabia
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TotalPay has received approval from the Saudi Central Bank (SAMA) to operate in Saudi Arabia as an e-commerce payment technical service provider.
The company said it is the first Indian firm to receive this approval from SAMA, allowing it to formally begin operations in the Kingdom.
TotalPay will offer payment gateway and payment orchestration services to businesses in Saudi Arabia, helping merchants manage digital payments through a single technology platform.
The company said it will also work with banks, financial institutions and technology partners as Saudi Arabia continues to expand its digital payments sector.
The Saudi approval strengthens TotalPay’s presence in the GCC as part of its wider regional expansion.
Since its launch in 2022, TotalPay has served more than 1,500 businesses and processed over $1 billion in transactions, the company said.
TotalPay was co-founded by Akif Mohsin from Bangalore and Rahim Pattarkadavan from Kerala.
“This is a proud milestone for TotalPay as we take the next step in our journey by expanding into the Kingdom of Saudi Arabia. We are incredibly proud of our team, whose dedication, commitment and relentless efforts made this achievement possible”, the co-founders said.
Saudi Arabia has become one of the Gulf’s key markets for fintech and digital payments, supported by regulatory reforms and wider digital economy plans.
TotalPay said it plans to build long-term partnerships with merchants, banks, fintech companies and enterprise clients in Saudi Arabia while expanding payment services across the Middle East and Africa.