Company Information

Get to know Nearpay

Founded in 2020, Nearpay is a Saudi-based fintech startup dedicated to simplifying payment acceptance for merchants, particularly small and medium-sized enterprises (SMEs). The company's core technology is a "Tap to Phone" (SoftPOS) solution that turns any NFC-enabled Android phone into a secure payment terminal, eliminating the need for traditional hardware. Alongside its software, Nearpay also offers a range of smart POS terminals and a payment gateway, all managed through a unified merchant portal. Nearpay is officially licensed by the Saudi Central Bank (SAMA) as a Payment Technical Service Provider.

Industry

Financial PSP GatewayPRIMARY
Financial Other Service
Technology Software Development

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Nearpay

Saudi Arabia

Founded in

Jan 2020 (6 Years)

Founded

Last online: No recent activity

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OVERALL SCORE

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Regulated

Recommended

IUX

(2,284 reviews)

Mauritius

2015

(10 years)

Security Information :

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ASIC

Security Information

Warning

This company is currently Unproved.

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License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.