Sending money to your friends via Facebook (aka ‘social payments’) is coming to the Middle East


Sending money to your friends through Facebook, Venmo (a digital, PayPal-owned, wallet) or Snapchat is already becoming something of a habit for young people in the US, and the trend could soon reach the Middle East.

Singaporean social payments startup Fastacash is planning to launch in MENA soon.

“We are already in discussions with a few marquee players in these markets, and a launch in this market is imminent,” Fastacash CEO Vince Tallent told Wamda (below, image via Flikr) .

Make no mistake: the startup does not offer its own app, or payment solution.

Rather, its technology works ‘under the hood’ and is platform-agnostic, meaning it could work with any kind of partner – from Facebook, a bank or WhatsApp, to Visa which signed a deal with the startup last year.

via Wamda


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