ToYou Retail App to use M2P Fintech’s payment solutions
In pursuit of a faster, more efficient payment service and payment experience for customers, To youThe Kingdom of Saudi Arabia’s (KSA) largest mobility-as-a-service provider has partnered with M2P FintechAsia’s largest API infrastructure company.
When signing an agreement at Seamless KSAToYou’s platform will be powered by the infrastructure and technology layer of M2P Fintech.
The partnership seeks to offer end-to-end payment solutions to the app’s customers and businesses in KSA
Of the various services supported by ToYou’s app, the main purpose is to provide an electronic e-commerce delivery service.
Consumers engage with the app to make various orders, including for groceries, restaurant deliveries, passenger transportation and courier services.
The app’s expansion to 56 cities across KSA reflects the region’s growing appetite for digital services, including new payment methods.
In a country where 98 percent of the population has internet access, digital payments in KSA are on the rise.
Digital transactions are predicted to reach $42.3 billion this year before topping $78.4 billion by 2027. When it comes to e-commerce, the numbers are similarly compelling.
The Saudi domestic online market is expected to double to $2 billion by 2025.
ToYou’s newly acquired partnership with MP2 is a direct response to this growing and clear demand for digital, giving it the opportunity to properly meet the transactional preferences of consumers.
While logistics services are a critical factor for economic growth and competitiveness, Ziyad bin Ali Al-Ajlanapp’s CCO, confirms its commitment to “the quality and global standards of the services, which is worthy of Saudi Vision 2030 and its trend to move forward in this field.
Describing the app as “an integrated logistics platform,” Al-Ajlan cites its success in KSA due to creating “a link between the user, the stores and the representative.”
When we talk about the partnership, Vaanathi Mohanakrishnanbusiness head of M2P Fintech, MENA added: “We are seeing a renewed focus on how businesses leverage technology to enable differentiated customer experiences that make the process of transacting on such platforms much more convenient.
“In line with the Kingdom’s Vision 2030 of increased inclusion and digital payment infrastructure leading to a cashless society, M2P is very pleased to partner with ToYou to expand digital payment options for ToYou’s customers.”
M2P enables businesses to become fintech by integrating fintech into core business offerings and acts as a technology layer between banks, fintechs and financial institutions.
Companies like ToYou can deploy customer-relevant banking services using M2P’s core banking system to ensure rapid speed to market while maintaining the brand’s core values.
