Saudi and Sudanese Companies Form Joint Venture SDPay Payment Company

en.Wedoany.com Reported - On October 21, Saudi Arabian payment technology company EdfaPay and Sudanese information technology company GoPravo announced the official launch of their joint venture SDPay in Sudan, with each holding a 50% stake, to jointly build and operate digital payment and financial services infrastructure. The new company is headquartered in Khartoum, the capital of Sudan, and its business covers banks, telecom operators, merchants, government agencies, and individual users, providing services such as QR code payments, point-of-sale (POS) acceptance, online payment gateways, and e-wallets.

SDPay's payment service system includes merchant acquiring, transaction processing, digital wallets, card issuing, and Payment-as-a-Service (PaaS). Enterprise customers can access online and offline payment channels through a unified platform, and banks and other financial institutions can use account information aggregation, transaction settlement, and reconciliation functions. The platform will also cover bill payments, government fees, payroll platform integration, and international cross-border remittance services.

The two parties cooperate based on a division of labor between technology and local operations. EdfaPay provides the payment technology platform, financial infrastructure, and related engineering capabilities, while GoPravo is responsible for local market operations in Sudan, licensing resources, and customer relationships. SDPay Chief Executive Officer Mohamed Elhag stated that the company will connect banks, e-wallets, telecom operators, and government fee collection systems, and operate the platform in Khartoum.

In terms of technology access for financial institutions, SDPay will provide application programming interfaces (APIs), digital identity integration, electronic know-your-customer (eKYC), fraud monitoring and risk management, 3D Secure authentication, as well as payment clearing, reconciliation, and financial data analytics services. The company also plans to provide embedded finance and digital payment system integration services to government departments.

SDPay Chairman and EdfaPay Chief Executive Officer Ghormallah AlGhamdi stated that the joint venture will leverage payment technology already operating under financial regulatory frameworks to establish a payment service platform in Sudan managed by a local team, focusing on merchant acceptance and cross-border remittance services.