Visa, Blue Pay, and Wayl to accelerate digital payments in Iraq

Baghdad (IraqiNews.com) – A Memorandum of Understanding (MoU) has been established by Visa, a global leader in payments technology, Blue Pay, an Iraqi financial technology business, and Wayl, an e-commerce platform for Iraq and the Middle East, to work together to advance digital payments in the Iraqi market.

With the launch of Wayl x Blue co-branded products like Merchant Corporate Cards and the adoption of the Payments Facilitator Model, the alliance intends to improve merchant acquiring and consumer digital payments.

The partnership will make it possible for Blue Pay to launch Wayl as the first payment facilitator in the Iraqi market. A co-branded Visa Prepaid Card with the logos of Wayl and Blue Pay will be issued as a corporate prepaid card for Wayl businesses. The parties will also collaborate to incorporate Blue Pay’s Cybersource Gateway into Wayl’s website.

Leila Serhan, Senior Vice President and Group Country Manager, North Africa, Levant and Pakistan, Visa, said: ” As Iraq’s economy continues to grow, the need for a robust and reliable digital payments infrastructure becomes increasingly important. Visa recognizes this need and is committed to playing a leading role in driving the digitization of payments in Iraq. We are excited to collaborate with Blue Pay and Wayl to accelerate digital payments and foster financial inclusion in Iraq. This partnership is an important step towards establishing a modern, secure, and seamless e-payment system that matches international standards and benefits consumers, businesses, and the economy.”

Ali Al-Saeed, Founder and CEO, Blue Pay, said: “Innovation by young Iraqis is the heart of BluePay. Therefore working together with Visa to enable Wayl is a natural action to do. We do believe that this partnership will help Wayl empower thousands of merchants to kick-off their e-payment experience that leads to a better financial inclusion in the country. Our team is dedicated to making this a success. As we move forward with our strategy to support and empower more startups directly and indirectly involved in the FinTech realm “

Ali M. Ismail, Founder and CEO, Wayl, said: “Wayl is dedicated to transforming social media merchants into real businesses by simplifying online payments and helping them manage their orders, inventories, and customer relationships. Our partnership with Visa and Blue Pay will empower merchants and enhance the e-commerce ecosystem in Iraq and the Middle East.”