$WTK
I hesitated sharing these findings however I thought why not.
There was clearly something going on with WadzPay and Mastercard. Whether or not it’s still in the works or fell through it’s a good experience none the less.
In the first photo you can clearly say they are working with 2 of the 8 mentioned companies and then specifically # Mastercard & FIS 👀
In the second photo Steve Tunstall is hinting at Mastercard partnership.
In the third post again it seems to be hinting at Mastercard.
The last photo clearly says and now expanding with digital solutions for Mastercard.
$WTK
BEST AMA - Please remember Khaled is ex HEAD OF MENA at SWIFT @swiftcommunity@WadzPay AMA with Khaled Moharem (@moharem777) & Stas (@fawnpuggle) main takeaways:
@WadzPay have already signed agreements with one of the largest Duty Free's (Dubai Duty Free) and the largest acquirer in the Middle East.
@WadzPay sat for many sessions and built up a digital asset ecosystem and built solution where you can get an instant refund, for example when you go to Dubai Duty Free and buy something in digital assets and want to return it, you will get an instant refund.
@WadzPay have received the initial approval from VARA (Virtual Assets Regulatory Authority)!!! THIS IS MASSIVE.
There have been thousands of applicants for a VARA License and WadzPay are one of the few who are doing well.
Khaled Moharem expects to go into operation and live very soon and will be able to announce customers that are currently under NDA.
WadzPay had to submit many documents regarding Anti Money Laundering, Sanction Screening, Compliance, Transaction Monitoring etc. etc. (It is ALOT of documentation). Khaled describes as a great journey for WadzPay and sees it as a benefit to the organization because it has built a really robust regulated ecosystem.
@WadzPay also have applications for licences in Bahrain ongoing at the moment as well. 🇧🇭
Khaled called out the cowboys in the payment space 😂😂.
@WadzPay are opening up a new region very soon! Which will be located in Europe, as MICA is already in place which is a standard regulation which allows you to operate all over Europe. They have already hired the Lawyer for the office and prior to this they sent the idea to the board which were very happy and excited for this to ahead and open up an office and get the license etc.
WadzPay will already have a good footprint by working with big companies in MENA which will help them expand into Europe.
WadzPay gain respect by taking the regulatory route. They have not over promised things to customers like they will go live tomorrow etc.
WadzPay have signed various agreements that will go live once regulations in place.
WadzPay Hajj and Umrah program is a global project, and it is in the implementation stage and have decided to go with a soft approach with 4 countries in APAC from the issuance perspective, they have the hosted country for acceptance (🇸🇦) and 2 more countries from the Middle East who are interested in the issuance side.
Today WadzPay have TWO more programs in MENA that are signed and waiting for the implementation phase which are both VERY BIG NAMES. This is separate to Dubai Duty Free and the Largest Acquirer in MENA which WadzPay also have agreements with.
WadzPay only focus on big projects, and don't focus on "a little bit bakery shop" 😂😂.
Financial Institutions is their main target and very very large merchants.
Khaled also spoke on NDA, and said they are not cowboys they are into payments and its heavy regulated, they can not just ignore NDA's and we have to respect it and just be patient.
Khaled said everyone in the team is from big financial companies and all have an amazing understanding.
Khaled & Stas both said they cannot see any competition and no one else that has a ecosystem like WadzPay's from all perspectives and he is very proud - THIS IS COMING FROM THE EX HEAD OF MENA at SWIFT!
Khaled said when WadzPay goes live everyone will be happy from a revenue perspective with millions of transactions happening.
IN SUMMARY WADZPAY WILL GO LIVE VERY SOON AND CUSTOMERS WILL BE REVEALED!!
@ticklem7@ScottishPower Have had the exact same thing, also looking back at 2021 and 2020 it’s saying what I paid was double what I actually did? My January, February and March usage has pretty much doubled from what it read a few weeks back
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