In a recent tweet, the Founder of WadzPay, a blockchain technology payment provider with a presence in the UAE, Anish Jain, offered an update to the community stating that WadzPay had made strides on the licensing front and are in the “final stages”. In addition he added that WPC token would be listed on a Tier1 regulated exchange in the Middle East.
As for the WadzPay product it will be ready for launch in Q3 of this fiscal year with live terminals on WadzPay soon.
Prior to this in a LinkedIn post, WadzPay announced that its blockchain enabled payments platform was now technically live for Pilgrims in Saudi Arabia. The solution is intended to facilitate digital payments and creates a cashless experience in KSA.
As per the announcement, WadzPay works with large payment companies, banks, and global entities to enable virtual asset-based transaction processing and settlement.
Their private blockchain program will enable pilgrims to use mobile app-based wallets issued by an approved institution in their home country. Once the wallet is loaded before travel, the user can make purchases at the merchant POS terminals present at the various pilgrimage points. The solution is intended to facilitate digital payments and creates a cashless experience in Saudi Arabia.
The pilgrims can easily get their un-spent money back after they return to their home country.
Using this platform, WadzPay allows merchants to offer improved service to international pilgrims at a fraction of the current cost.
This program will be used for issuing wallets to pilgrims and acceptance of these wallets in merchant outlets in KSA. As per WadzPay brochure, “We have partnered with a major aggregator from KSA to enable the world’s first cross-border ‘cashless’ Hajj & Umrah program”. In November 2021 WadzPay had partnered with Geidea in KSA for cashless payments.