A Dubai-based fintech specialising in payment processing is set to launch a new digital banking solution in Europe as part of worldwide expansion.
OG Bank and OG Pay includes a chat-based payment wallet and a digital point of sale (POS) that can be operated from mobile devices.
OG Bank and OG Pay have signed an agreement with Bankable, the global designer of ‘Banking-as-a-Service’ solutions, to offer digital banking and digital payment solutions primarily in the UK and Germany.
Senior executives say OG Pay’s chat-based payment solution and digital POS will act as a disruptive newcomer to the financial sector.
Chat based payment solutions and mobile payment processing is widely and commonly used in Asia, creating new global competitors using technology that has yet to adopted in Europe.
Mohammed Ibraheem Khan, chief executive officer of OG Bank and OG Pay, said: "I chose Bankable as a technology partner to support my ambition in multiple markets. OG Pay will change the way individuals and businesses send and receive money along with how businesses process payments. We are going to ruffle some feathers, as disruption is needed.”
Eric Mouilleron (pictured), founder and chief executive officer of Bankable, said: “Bankable is delighted to partner OG Pay, a chat based payment pioneer, to launch new payment solutions in the UK and Germany.
“OG Pay is an ambitious organisation planning to launch digital banking services supported by Bankable API infrastructure, not only in Europe but also in Pakistan, Egypt, Malaysia, Indonesia and other jurisdictions.
“Bankable will partner with OG Pay in all its markets, appointing new regional bank sponsors in the process.”