Dubai, UAE: ToYou, the Kingdom of Saudi Arabia’s largest mobility-as-a-service provider on a one-click platform has partnered with M2P Fintech, Asia’s largest API infrastructure company. The partnership, which was established through the signing of a memorandum of understanding during the Seamless KSA event, aims to offer end-to-end payment solutions to customers and businesses in the Kingdom of Saudi Arabia. ToYou’s platform will be powered by the infrastructure and technology layer of M2P Fintech, enabling smooth payments for users and providing a seamless payment experience for the app’s products and services.
ToYou is a SuperApp that brings together several services and adds a new dimension to logistics in Saudi Arabia. Through a single app, ToYou allows consumers to find, buy and have everything delivered, from groceries and restaurant deliveries to passenger transportation and courier services. ToYou’s rapid expansion reflects Saudi Arabia’s growing appetite for digital services, including new payment methods.
In a country where 98% of the population has internet access, digital payments in the Kingdom of Saudi Arabia are on the rise, with digital transactions expected to reach $42.3 billion this year and $78.4 billion by 2027. When it comes to e -trade, the figures are equally convincing. The Saudi domestic online market is expected to double to $2 billion by 2025.
In a speech about the partnership, Ms. Vaanathi Mohanakrishnan, Business Head of M2P Fintech, told MENA: “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.”
In this regard, Eng. Ziyad bin Ali Al-Ajlan, CCO, ToYou, said: “Driven by our determination to provide the best logistics services in the Kingdom to deliver orders, the ‘ToYou’ app was able to expand and reach more than 56 cities in record time .” The next step is to expand regionally across several countries. While logistics services are a critical factor for economic growth and competitiveness, we in turn are committed to the quality and global standards of the services, which is worthy of Saudi Vision 2030 and its trend to advance in this field and become a global logistics platform. The “ToYou” app is considered one of the leading applications for delivering orders to restaurants, pharmacies, gift shops, clothing stores and various other services because it is an integrated logistics platform that created a link between the user, the stores and the representative. We are delighted to partner with M2P Fintech bringing their knowledge, technical prowess and experience in seamless digital payments from around the world to the Kingdom of Saudi Arabia for the benefit of its people.”
M2P enables every company to become fintech by integrating fintech into core business offerings and acts as a trusted technology layer between banks, fintechs and financial institutions. M2P is present in over 20 markets in MENA, APAC and Oceania. Through its core lending suite, M2P offers an active loan portfolio of $9 billion and works with over 100 banks, 100 financial institutions and over 600 fintechs to serve over 35 million end customers. Businesses can also quickly deploy future-ready, customer-relevant banking services using M2P’s comprehensive core banking system to ensure rapid speed to market while maintaining the brand’s core values.
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About you:
ToYou is a Saudi-based super app that connects users with sellers across the Kingdom. From grocery and restaurant deliveries to passenger transport and courier services, the platform allows consumers to find anything, buy anything and have it all delivered through a single app. ToYou integrates M-commerce, logistics and a full-scale chat system into one platform, and delivers a seamless experience supported by strong logistics and cutting-edge technology. From consumers to companies, ToYou brings a world of opportunity to everyone, revitalizing businesses, creating job opportunities and meeting people’s daily needs. ToYou is available on the Apple Store, Google Play and Huawei’s AppGallery.
About M2P Fintech:
M2P Fintech is Asia’s largest API infrastructure company offering a wide range of services that enable businesses of any scale to embed financial services. M2P Fintech is an omnichannel platform operating in over 20 markets across the Asia Pacific, MENA and Oceania regions. M2P works with over 100 banks and 100 NBFCs and has clocked over 600+ Fintech engagements across a diverse set of industries serving 35 million end customers.
M2P Fintech is well positioned with a secure and highly customizable technology stack that helps companies launch their products with efficiency and speed at their core. On the one hand, M2P’s platform allows companies to quickly create and deploy customized fintech products by adapting all relevant workflows through their plug-and-play solutions. On the other end, M2P facilitates the ability of banks and licensed and regulated entities to support these products on the back end by facilitating technology integration as well as settlement and operational support.
