TESS Payments has announced a strategic partnership with Al Fardan Exchange to support the development of Qatar’s financial sector. This collaboration aims to transform digital payment channels, allowing both institutions to expand their reach and contribute to Qatar’s national vision for digital innovation.
The partnership combines TESS Payments’ fintech expertise with Al Fardan Exchange’s established reputation, focusing on advancing digital payments and remittances in Qatar. By enhancing the efficiency and security of financial transactions, the two companies aim to provide customers with a simplified experience powered by structured technology and a deep understanding of local needs.
Officials from TESS Payments expressed that their collaboration with Al Fardan Exchange will set a new benchmark for digital payments and remittance solutions in Qatar, emphasizing the importance of combining fintech innovation with industry knowledge.
In related news, TESS Payments obtained a Payment Service Provider (PSP) license from the Qatar Central Bank in June 2024. To meet Qatar’s regulatory standards, TESS worked with Akurateco to implement an on-premises setup of Microsoft Azure Cloud software, as well as achieving the Payment Card Industry Data Security Standard (PCI DSS) certification. This further underscores Akurateco’s commitment to high-security standards.
Akurateco’s ready-to-use, PCI DSS-certified white-label payment solutions are now available to merchants, payment service providers, and financial institutions globally, reinforcing TESS Payments’ dedication to security and compliance within the financial regulatory framework.
