UPayments

Name

UPayments

Legal name

UPayments Company for Electronic Payment Systems and Settlement K.S.C.M.

Website

https://upayments.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Short description

UPayments is a Kuwait-licensed electronic payment service provider offering an integrated SaaS suite (payment gateway, e-commerce, POS, invoicing, rent collection) primarily to SMBs and enterprises in Kuwait through a self-serve, product-led model.

Ownership category

akta.pro rank

Product category

Payment Processing

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Services-Prepackaged Software (7372), Finance Services (6199)

akta.pro primary industry

Merchant Payment Gateways (API/Hosted Checkout) (FSAMACAA)

akta.pro secondary industries

Embedded Payments (Pay-ins, Pay-outs, Wallets) (FSAGALAB), Payments, Billing & Invoicing (THALACAJ)

Keywords

• Payment gateway services
• Point of sale systems
• E-commerce platforms
• Electronic invoicing
• Online payment processing

Headquarters

HQ city

Kuwait

HQ country

Kuwait

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Infrastructure, Operations, Marketing or Sales, Supply Chain

Revenue model

1. Payment Gateway Transaction Fees: Revenue generated from processing electronic payments through the payment gateway, charging merchants a percentage or fixed fee per transaction
2. Subscription Services: Monthly or annual subscription fees for accessing various UPayments services including payment gateway, e-commerce store builder, POS management, and rental collection tools
3. POS Device Sales: Revenue from selling POS (Point of Sale) devices to merchants for in-person payment acceptance
4. Pro Theme Subscription: Premium subscription for the advanced Pro Theme e-commerce design features

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

UPayments operates a Central Bank of Kuwait-licensed electronic payment platform serving businesses in Kuwait with five integrated products: UInterface payment gateway (API and plugins for online acceptance), UPay (electronic invoices and shareable payment links), UStore (e-commerce store builder with shipping and marketing integrations), UPOS (point-of-sale terminals with multi-branch reporting), and URent (rent and property payment collection). The platform is offered as a self-serve SaaS suite with KNET and card-network connectivity, PCI DSS compliance, and bilingual Arabic/English support.

Product overview

UPayments is a Kuwait-based electronic payment systems company (licensed by the Central Bank of Kuwait as a large electronic payment services provider) offering a unified platform with five core products: UInterface (payment gateway with API integration), UPay (invoices and payment links), UStore (e-commerce platform with integrated payments and shipping), UPOS (point-of-sale hardware with reporting), and URent (property management and rent collection). These products serve businesses of all sizes and are accessible via mobile apps on iOS, Android, and Huawei platforms.

Differentiator

Problem solved

Functional benefit

Products and services

• UInterface Payment gateway solution that enables merchants to accept payments on their websites and applications through API integration and easy-to-use plugins; supports KNET and credit card processing under PCI DSS-compliant infrastructure.
• UPay Electronic invoice and payment link service that allows businesses to create and send secure payment links for collecting electronic payments instantly from customers without a full e-commerce site.
• UStore E-commerce platform with built-in payment gateway, shipping integrations, marketing tools (Meta, TikTok, Snapchat, Google Tag Manager pixels), and analytics for building and managing online stores.
• UPOS Point-of-sale hardware devices with dashboard and comprehensive reporting features for processing in-person payments across single or multiple business branches.
• URent Property management and rent collection solution enabling landlords to send payment links for rent, automatic reminders, and comprehensive collection tracking for residential or commercial tenants.

Named customers6 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature8 records

Partnerships

Eight partnerships are on record, tiered minor and core.

• AlPrime CapitalminorImplementation/ SI/ Consulting PartnerAccounting and bookkeeping partner providing financial management services to UPayments merchants. Services include accounting, system setup, costing, feasibility studies, valuations, and HR/payroll processing.
• BOWABAminorGTM or Marketing PartnerFull-service digital marketing agency specializing in social media strategy, content creation, online advertising, influencer marketing, SEO, and website design. Targets small to medium-sized businesses.
• MarketingkwminorGTM or Marketing PartnerOnline marketing agency offering design, digital marketing, printing, production, photography, TV/radio production, and social media services.
• Viral GroupminorGTM or Marketing PartnerMarketing and advertising agency offering branding, videography, graphic design, AI services, social media management, website/app design, and voice overs. Serves multiple sectors including law, medical, technology, beauty, real estate, and F&B.
• Spark Marketing & Advertising AgencyminorGTM or Marketing PartnerResult-driven marketing agency founded in 2017 offering strategic marketing, content creation, digital ads, and brand experiences. Works with businesses across various industries.
• EFADA.AI MarketingminorGTM or Marketing PartnerAI-powered digital marketing partner helping businesses in Kuwait and GCC turn marketing spend into measurable growth. Services include social ads (Meta, Tiktok, Snapchat, LinkedIn), Google Ads, analytics, SEO, and conversion optimization.
• KNETcoreTechnology or IntegrationPrimary payment method integration for Kuwaiti transactions. KNET is the national payment network enabling real-time bank transfers for purchases.
• Credit Card NetworkscoreTechnology or IntegrationIntegration with international credit card networks (Visa, Mastercard) for card-based payment processing.

Scale indicators2 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• PayTabs: MENA-origin payment processor offering gateway, payment links, invoicing and mobile POS across GCC. Competes with UPayments on merchant acquiring for SMB and enterprise.
• Tap Payments: MENA-focused payment gateway and fintech platform covering Kuwait and wider GCC with card processing, payment links, and invoicing — directly comparable product set to UPayments' UInterface and UPay.
• MyFatoorah: Kuwait- and GCC-headquartered payment gateway providing online invoicing, payment links, and POS integrations for SMBs and enterprises. Closest head-to-head competitor in Kuwait's online payment space.
• Telr: UAE-based online payment gateway with merchant onboarding, hosted checkout and developer APIs, serving GCC merchants including Kuwait — comparable gateway/e-commerce positioning.
• HyperPay: MENA payment service provider offering gateway, recurring billing, and POS solutions for SMBs and large merchants — overlapping product suite with UPayments.
• Geidea: Saudi-based payment service provider combining soft POS, online gateway and POS devices across the GCC, including Kuwait — directly comparable gateway + POS hardware stack.

Broad incumbents

• Network International: Large MEA payment processor offering merchant acquiring, processing and digital payment solutions across the region. Acts as an incumbent acquirer that UPayments and other gateways integrate with or compete against for enterprise deals.
• Checkout.com: Global payment processor expanding aggressively into MENA. Competes for large Kuwaiti enterprise merchants with multi-currency processing and advanced developer tooling.
• Stripe: Global payment gateway increasingly available in MENA markets. Its developer experience and global feature set raise the bar for API-first gateways like UPayments' UInterface.

Others

• KNET: Kuwait's national debit/ATM payment switch and online payment network. UPayments integrates with KNET as a core rail, making it both an enabler and a strategic dependency/competitor at the rails layer.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/upaymentskw
• Facebookfacebook.com/upayments
• LinkedInlinkedin.com/company/about

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about UPayments