PalPay

What PalPay does

PalPay is a Palestine-based electronic payment solutions provider, founded in 2010 and headquartered in Ramallah, operating as a subsidiary of Bank of Palestine Group. The company launched Mahfazati, Palestine's first mobile digital wallet, under Palestine Monetary Authority (PMA) licensing in 2020, and now serves individual consumers, merchants, employers, and humanitarian organizations through a mobile-first platform extended by a 3,500-agent physical distribution network across all Palestinian governorates. Core offerings include the Mahfazati consumer wallet (with multi-currency ILS/USD/JOD support, physical and virtual Visa cards, QR and USSD-based offline payments), the Rawatibi corporate salary disbursement program, Visa POS terminals and Soft POS merchant acceptance, an e-commerce payment gateway, electronic bill payment (e-Sadad), instant payment rails (e-Burraq), and PINPAD accounting system integration. The platform's 100,000-150,000 active users can settle bills for over 140 companies and institutions.

The company generates revenue primarily through transaction-based fees on merchant payment processing, corporate salary disbursements, e-commerce gateway services, and bill payment facilitation, while consumer wallet accounts and Visa cards are issued free of charge under PMA-imposed wallet and transfer caps. Go-to-market operates through three motions: direct-to-consumer digital distribution via the Mahfazati app on iOS and Android, enterprise field sales targeting merchants for POS/Soft POS and corporates for Rawatibi payroll, and channel partnerships leveraging the Bank of Palestine banking franchise and authorized agent network. Strategic positioning combines regulated domestic payments infrastructure with humanitarian-aid delivery (Save the Children, Takaful Foundation, Gaza Talents partnerships totaling over $2.2M+ in facilitated flows) and event sponsorship (Birzeit University AI Horizons Forum, Ramallah Municipality partnership).

Operationally, PalPay is geographically constrained by PMA regulation to the State of Palestine and serves a market structurally affected by conflict, with Gaza operations notable for 80% digital transaction penetration per the Minister of Communications. The platform's differentiation rests on being the first-mover licensed wallet, USSD offline payment capability in connectivity-limited areas, bank-grade regulatory standing via Bank of Palestine Group, and humanitarian-aid-grade payment infrastructure. Revenue is not publicly disclosed, headcount stands at 51-100 employees, and no external venture funding rounds are evidenced — the company is wholly owned within Bank of Palestine Group.

Name

PalPay

Legal name

PalPay Prepaid Services Ltd.

Website

https://palpay.ps

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

51–100 employees

Short description

PalPay operates Palestine's first PMA-licensed mobile digital wallet (Mahfazati) and merchant payment infrastructure for consumers, employers, and retailers. A Bank of Palestine Group subsidiary, it serves over 100,000 active users across all governorates via a 3,500-agent network.

Ownership category

akta.pro rank

Product category

Mobile Payments

akta.pro primary industry

Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG)

akta.pro secondary industries

International / Multi-Currency Wallets (FSAMAEAL), Alternative Payment Methods (APMs) Enablement (BNPL, wallets, local methods) (FSAMACAE), mPOS & SoftPOS (Tap-to-Phone) Solutions (FSAMADAB), Cross-Border Payouts & Mass Disbursements (Pay-outs) (FSAMAIAJ)

Keywords

• Mobile payment services
• Digital wallet platform
• Merchant payment processing
• Electronic bill payment
• Corporate salary disbursement

Headquarters

HQ city

Ramallah

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

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

Revenue model

1. Merchant Payment Processing: Transaction fees from merchants accepting payments via Visa POS machines, Soft POS, and e-commerce gateway. Merchants pay for payment acceptance infrastructure and transaction processing.
2. Salary Program (Rawatibi): B2B service enabling companies to transfer salaries to employee PalPay wallets. Revenue from corporate clients using the payroll disbursement platform.
3. E-Commerce Gateway: Payment gateway services for online merchants selling products and services over the internet, processing digital commerce transactions.
4. Bill Payment Services: Facilitation of bill payments (electricity, water, telecom, university fees, loans) at Visa machines and through the app, with potential fees per transaction.

Pricing tiers

Go-to-market motion3 records

Distribution channels7 records

Marketing channels7 records

Core offering

PalPay provides a regulated mobile e-wallet platform (Mahfazati) and surrounding payment infrastructure that enables Palestinian consumers to send/receive money, pay bills, and obtain Visa cards without requiring a bank account, while serving merchants with POS terminals, Soft POS, and e-commerce gateways, and serving employers with an electronic salary disbursement program (Rawatibi). The company operates under Palestine Monetary Authority licensing and supports multi-currency (ILS/USD/JOD) transactions through a 3,500-authorized-agent physical network augmented by digital channels.

Product overview

PalPay operates as a platform-plus-modules architecture, established in 2010 as Palestine's first digital wallet. The core product is the Mahfazati mobile e-wallet application providing fundamental services including money transfers, QR payments, bill settlement, and Visa card issuance. The platform extends through specialized modules for businesses (Rawatibi salary program), merchants (VISA POS machines, Soft POS, E-Commerce, PINPAD Integration, Merchant Wallet), and individual services (Visa cards, payment terminals). All services are regulated by the Palestine Monetary Authority and serve over 100,000 active users across all governorates through a network of 3,500 authorized agents.

Differentiator

Problem solved

Functional benefit

Brands

• Mahfazati PalPay (محفظتي PalPay): Digital wallet mobile application enabling individuals to send/receive money, pay bills, settle payments, and access Visa cards.
• Rawatibi (رواتبي)

Products and services

• Mahfazati (محفظتي) Mobile E-Wallet Primary mobile e-wallet application for individual consumers enabling send/receive money, QR payments, bill settlement, mobile top-up, Visa card requests (physical and virtual), microloans, digital card purchases, and family sub-wallet management. Supports ILS, USD, and JOD balances. Available on iOS and Android without requiring a bank account.
• PalPay Visa Cards Free physical and virtual Visa cards issued through the Mahfazati app for online shopping, local store purchases, international use, and ATM withdrawals and deposits.
• Rawatibi (رواتب) Salary Program Electronic salary transfer service for employers that deposits employee wages directly into Mahfazati e-wallet accounts with one-click transfers, eliminating paperwork and bank visits, supporting employee advances, and reducing payroll errors.
• Visa POS Machines Point-of-sale terminals enabling merchants to accept Visa, MasterCard, Apple Pay, Easy Life cards, and QR code payments with secure and fast transaction processing.
• Soft POS Smartphone-based payment acceptance application enabling merchants to receive payments via QR codes, Visa, MasterCard, and Apple Pay without traditional POS hardware.
• Payment Services (خدمات التسديد) Comprehensive bill payment services through POS machines and the PalPay system covering electricity bills, water bills, university fees, microloan installments, telecom and internet bills, and mobile top-ups.
• E-Commerce Payment Gateway Online payment gateway enabling merchants to sell products and services over the internet, processing digital commerce transactions and supporting financial transfers and data exchange for borderless commerce.
• PINPAD Accounting System Integration Service connecting PalPay payment machines directly to merchants' accounting systems, enabling payment management and generation of Visa and MasterCard transaction reports from merchant accounting software.
• Merchant Wallet (محفظة التاجر) Comprehensive financial management tool for merchants available via web and mobile apps, including all individual wallet services plus business-specific features for daily financial transactions.
• Aid Management System Digital solution launched in 2014 for delivering financial aid efficiently and securely, supporting humanitarian relief operations including delivery of over $1.6 million in aid to 8,000+ Gaza families through the Save the Children partnership.

Quantifiable outcome

• Over $600,000 facilitated for Gaza digital freelancers via partnership with Gaza Talents
• +2 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature8 records

Partnerships

Eight partnerships are on record, tiered core, major and minor.

• Gaza TalentscoreStrategic or Co-development PartnerPartnership facilitating international payments for Gaza digital freelancers. Gaza Talents facilitated over $600,000 in income for workers by partnering with Bank of Palestine and PalPay to navigate payment challenges amid banking restrictions in conflict zones.
• Save the Children InternationalmajorStrategic or Co-development PartnerPalPay donated to support 350 families in Gaza as part of Bank of Palestine Group's humanitarian relief bridge. Over $1.6 million in aid was delivered to 8,000+ families through PalPay's services.
• Takaful FoundationmajorStrategic or Co-development PartnerStrategic partnership for orphan care program in Gaza targeting 20,000 children. Palestine Bank Group contributes $2 million annually, with Takaful Foundation allocating $9 million over program lifespan.
• Palestine Monetary AuthoritycoreOthersOfficial licensing and regulation by PMA. PalPay launched its Mahfazati e-wallet as one of the first licensed digital wallets in Palestine in 2020. Ongoing supervision of instant payment and bill payment services.
• VisacoreTechnology or IntegrationPayment network partnership enabling Visa card issuance (physical and virtual) and POS machine acceptance. Supports Visa, MasterCard, Apple Pay, and Easy Life card payments.
• Ramallah MunicipalityminorGTM or Marketing PartnerPartnership agreement for 2026 activities and events sponsorship.
• Birzeit UniversityminorGTM or Marketing PartnerPalPay sponsored the AI Horizons Forum organized by Birzeit University's Continuing Education Center, under Ministry of Education patronage with support from Palestine Investment Fund and Bank of Palestine Group.
• Ooredoo and JawwalcoreTechnology or IntegrationMobile network operators for SIM-based registration and authentication. Users can only register using Palestinian mobile numbers from Ooredoo or Jawwal.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• bKash: Bangladesh's largest mobile financial services platform serving tens of millions of unbanked users via agent network and merchant payments. Comparable to PalPay in providing no-bank-account-required digital wallets, nationwide agent cash-in/cash-out infrastructure, and serving similar financial inclusion use cases.
• Fawry: Egypt's leading e-payment platform offering e-wallets, bill payment, merchant POS, and Soft POS solutions to an underbanked population. Directly comparable to PalPay in product mix (consumer wallet, bill aggregation across 100+ billers, merchant acquiring, Soft POS) and target customer (unbanked/underbanked consumers and SMEs).
• Vodafone Cash: Mobile money service operated by Vodafone Egypt that enables P2P transfers, merchant payments, and bill payment via mobile wallets. Directly comparable to PalPay's Mahfazati in mobile-network-tied wallet onboarding, agent distribution, and serving underbanked consumers in a MENA market.
• STC Pay: Saudi Arabia's flagship mobile wallet launched by the STC telecom group, serving consumers and merchants with P2P, QR payments, and remittances. Comparable to PalPay in operating as a telco/bank-group-backed digital wallet in a regional market with multi-currency and cross-border settlement needs.
• Orange Money: Orange's mobile money service operating across MENA and Africa, providing multi-currency wallets, bill payment, and merchant acquiring via mobile network operators. Comparable to PalPay in MENA market focus, multi-currency support, and mobile-operator-tied onboarding.
• M-Pesa: Safaricom-led mobile money platform pioneering agent-based P2P payments, merchant acquiring, and salary disbursement across Africa. Comparable to PalPay in its foundational reliance on agent distribution, QR-based merchant payments, and serving populations with limited banking access.
• eFAWATEERcom: Jordan-headquartered electronic bill payment aggregator that also operates in Palestine, allowing consumers to pay utility, telecom, and other bills through wallets, POS, and apps. Highly comparable to PalPay's e-Sadad bill payment service and overall consumer-facing payment aggregation in the same regional corridor.

Emerging players

• Telda: Egyptian digital bank offering a consumer mobile-first current account with debit card, P2P transfers, and bill payments. Comparable to PalPay in targeting younger MENA consumers with a digital-first wallet experience, though broader in scope as a licensed digital bank.

Others

• Visa: Global card network and payment infrastructure provider with which PalPay has a core technology partnership for issuing physical/virtual Visa cards and powering POS terminals. Comparable as the underlying rails PalPay depends on for card acceptance, but not a direct competitor.

Broad incumbents

• PayPal: Global incumbent in digital payments, offering consumer wallets, merchant checkout, and payouts across 200+ markets. Comparable as a broad incumbent in digital wallet and merchant payment processing, though operating at vastly larger scale and not focused on the underbanked/multi-currency wallet niche PalPay serves.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCsXl2_K0q3gZfN5MH7H8vMg
• Xx.com/palpaycompany

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

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 PalPay