MANAMA: Kuwait-based One Global has launched a mobile app as a single, secure platform for all digital financial services across the Middle East and Africa.
According to One Global founder and chief executive Mohammed Al Rashidi, the Og Money platform, formerly known as PayIt, already has 900,000 customers across the region, thousands of merchants and manages millions of dollars of transactions every day through the app.
The app is certified by the Central Bank of Bahrain.
Mr Al Rashidi said the company’s vision is to enable digital financial services to reach two billion people and 200 million businesses that are without credit or savings in emerging economies.
“Og Money serves the banked, under-banked and unbanked with a full suite of mobile and digital financial services. It allows users to receive remittances, wages, and government subsidies, make purchases at stores, provide funds for vouchers and gift cards or pay utility bills and school fees,” he said.
“It acts as a seamless platform to connect consumers, banks, telecommunication operators, foreign exchange providers and merchants, all via the convenience of a mobile phone.
“Broadening access to financial services through digital platforms like Og Money can help boost trade, reduce poverty, empower women and unlock societal-wide economic benefits.”
One Global is a Microsoft partner and Og Money has received official authorisation and compliance certification from the Central Bank of Bahrain, Kuwait Finance House, Warba Bank in Kuwait, Bank Misr in Egypt, Tadhamon International Islamic Bank in Yemen and many other banks across the region.
It is also PCI/DSS compliant and maintains the highest security level within the financial services industry.
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