Ooredoo Fintech
Ooredoo Fintech is a Qatar-based subsidiary of Ooredoo Group that operates regional digital wallets — Ooredoo Money, mFaisaa, and walletii — serving consumers, freelancers, SMBs, and corporate clients across six MENA markets with money transfers, bill payments, payroll disbursement, and global payment integrations.
- Company typePrivate
- Founded2022
- HeadquartersLusail, Qatar
- Headcount101–250
- GTM typeB2B and B2C
- OfferingServices
What Ooredoo Fintech does
Ooredoo Fintech (legal entity: Ooredoo Financial Technology International) is a Qatar-based, wholly owned subsidiary of Ooredoo Group that operates a portfolio of regional digital wallet brands — Ooredoo Money in Qatar, mFaisaa in the Maldives, and walletii by Ooredoo in Oman and Tunisia — with planned launches in Iraq and Kuwait. The company serves individual consumers, freelancers and small businesses, underbanked and unbanked populations, and corporate and enterprise customers across six MENA markets, offering domestic and international money transfers, bill payments, merchant payments, E-KYC-based onboarding, business wallets with IBAN, WPS-compliant salary disbursement, and bulk payment services. The platform is built on a proprietary 'Build Once, Deploy Everywhere' NX monorepo architecture designed for rapid cross-border wallet deployment with localization, and integrates global payment rails including PayPal, Western Union, MoneyGram, Mastercard, and Thunes to extend remittance and commerce reach.
Revenue is generated primarily through transaction fees on money transfers, bill payment commissions, and business wallet services (IBAN provision, WPS salary payments, bulk disbursements). The go-to-market combines direct-to-consumer distribution via mobile apps on iOS and Android with enterprise channel partnerships through banks (Mashreq, National Bank of Oman, QNB Group) and government platforms (Qatar Ministry of Commerce and Industry Single Window), and API-first integration with global payment providers. The company monetizes at roughly 3.5% on remittances versus a 6.4% global average, with transaction-based, pay-as-you-go pricing. The underlying customer acquisition advantage is the parent's telecom footprint: Ooredoo Group serves 156 million customers across 10 countries, providing embedded retail, agent, and subscriber channels that Ooredoo Fintech leverages for distribution and cash-in/cash-out services.
The company was founded in 2022 and operates with a staff of 51-100, led by a C-suite drawn from Salesforce, Vodafone, Barclays, AWS, Telenor (Easypaisa), Revolut, BlackRock, and Apex Group. Ooredoo Money in Qatar holds a 21% share of overall mobile money transaction value in the MENA region, and the company has secured eight Stevie Awards and two Middle East Technology Excellence Awards in 2025 for technology innovation, with partnerships including the first Gulf-region PayPal-mobile money integration and PayPal World platform membership.
Ooredoo Fintech firmographics
Firmographics- Name
- Ooredoo Fintech
- Legal name
- Ooredoo Financial Technology International
- Website
- https://ofti.app
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Ooredoo Fintech is a Qatar-based subsidiary of Ooredoo Group that operates regional digital wallets — Ooredoo Money, mFaisaa, and walletii — serving consumers, freelancers, SMBs, and corporate clients across six MENA markets with money transfers, bill payments, payroll disbursement, and global payment integrations.
- Ownership category
- akta.pro rank
Ooredoo Fintech industry classification
Industry- Product category
- Mobile Money / Digital Wallets
- NAICS
- Finance and Insurance (52)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- General-Purpose Digital Wallets (P2P + Merchant) (FSAMAEAA)
- akta.pro secondary industries
- Cross-Border FX, Multi-Currency & Treasury for Payments (FSAGABAK), Consumer P2P International Remittances (FSAGAKAA), Cross-Border Payouts & Mass Disbursements (Pay-outs) (FSAMAIAJ)
Keywords
Where Ooredoo Fintech is headquartered
LocationHeadquarters
- HQ city
- Lusail
- HQ country
- Qatar
- HQ region
- Middle East
Offices1 record
Markets served
Ooredoo Fintech business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure, Others
Revenue model
- Money Transfer Fees: Transaction fees charged on international and domestic money transfers through the digital wallet platforms
- Bill Payment Services: Fees or commissions earned from processing bill payments for utilities, telecommunications, and other services
- Business Wallet Services: IBAN provision, WPS salary payments, and bulk disbursement services for corporate customers
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Mobile money remittances cost 3.5% compared to 6.4% global average for all sending methods |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels3 records
Ooredoo Fintech product offering
Product offeringCore offering
Ooredoo Fintech operates a portfolio of branded mobile wallets—Ooredoo Money in Qatar, mFaisaa in the Maldives, and walletii by Ooredoo in Oman and Tunisia—delivered through a shared 'Build Once, Deploy Everywhere' platform architecture. Core services include international money transfers (covering 200+ countries), local and cross-border remittances, bill payments, merchant payments, cash-in/cash-out via agent networks, E-KYC onboarding, and business solutions including IBAN business wallets and WPS salary disbursements.
Product overview
Ooredoo Fintech operates as a platform of mobile wallet solutions across the MENA region, with three core regional products: Ooredoo Money (Qatar), mFaisaa (Maldives), and walletii by Ooredoo (Oman and Tunisia). These digital wallets share a common 'build once, deploy everywhere' architecture while adapting to local market requirements. The platform offers consumer services including bill payments, money transfers, and international remittances, plus business solutions such as WPS payroll services and bulk disbursements. Strategic integrations with PayPal, Western Union, and MoneyGram extend cross-border capabilities across the portfolio.
Differentiator
Problem solved
Functional benefit
Brands
- Ooredoo Money: Digital wallet service in Qatar offering international money transfers, bill payments, and mobile recharge, with 21% market share of overall mobile money transaction value in the MENA region.
- mFaisaa
- walletii by Ooredoo
Products and services
- Ooredoo Money Digital wallet for Qatar consumers and businesses offering international money transfers to 200+ countries, domestic and utility bill payments, Ooredoo telecom account management, Karwa Smart Card recharges, and business solutions including WPS salary disbursements. Holds 21% market share of overall mobile money transaction value in the MENA region.
- mFaisaa (m-Faisaa) Award-winning mobile wallet in Maldives enabling users to pay bills, send money to anyone anywhere instantly, and receive international USD payments via PayPal integration. Operates under the Ooredoo Maldives telecom partnership.
- walletii by Ooredoo Digital wallet operating in Oman and Tunisia offering local and international money transfers, bill settlements, merchant payments, and cash-out services through an extensive agent network. Simplified life messaging targets mass-market consumer adoption.
Quantifiable outcome
- 21% mobile money market share in MENA region for Ooredoo Money Qatar
- +2 more outcomes
Companies that use Ooredoo Fintech
Customer profileNamed customers6 records
Segments4 records
Ideal customer profiles4 records
Ooredoo Fintech technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration6 records
Feature3 records
Ooredoo Fintech partnerships and signals
Strategic signalPartnerships
14 partnerships are on record, tiered core and supporting.
- National Bank of OmancoreMoU signed March 31, 2026 in Muscat for digital financial services and payment solutions development. Covers digital wallet ecosystem, payment services, banking infrastructure support, and joint fintech initiatives aligned with Oman Vision 2040.
- QNB GroupcoreStrategic partnership supporting walletii by Ooredoo launch in Tunisia. QNB Group, one of the region's leading financial institutions, provides banking infrastructure and support for the digital wallet ecosystem in Tunisia.
- Monétique TunisiacorePartnership with Tunisia's national electronic payments operator to ensure full integration with local financial ecosystem and compliance with national payment regulations and infrastructure.
- Western UnioncoreIntegration of Western Union's global money transfer services into the Ooredoo Money app, initially in Qatar with plans for wider regional expansion. Enables Ooredoo Money customers to send/receive money across 200+ countries and 130 currencies through Western Union's global network.
- MoneyGramsupportingPowered international money remittance (IMR) service for mFaisaa enabling zero-fee transfers to cyclone-affected countries during humanitarian initiative.
- Mashreq Bank QatarsupportingStrategic collaboration to offer WPS salary payment services to Mashreq's corporate customers in Qatar, ensuring compliance with Qatar Central Bank regulations on salary disbursements.
- Ministry of Commerce and Industry QatarsupportingPartnership to facilitate business account registration through MOCI's Single Window platform, promoting financial services utilization and SMB growth through secure financial solutions.
- PayPalcoreStrategic partnership enabling Ooredoo Money users in Qatar to transfer funds between wallets and PayPal accounts. First PayPal partnership with a mobile money fintech in the Gulf region. Extended in 2026 with mFaisaa PayPal integration in Maldives for USD payments. Ooredoo Fintech joined PayPal World platform in September 2025 connecting nearly 2 billion users globally.
- DT OnesupportingPartnership to enable Overseas Filipino Workers in Qatar to make Social Security System (SSS) contributions to the Philippines through Ooredoo Money app.
- Creative DocksupportingPartner ecosystem collaborator for fintech solutions development and innovation.
- HuaweisupportingTechnology partner providing infrastructure and solutions for fintech operations.
- MastercardsupportingPayment network partner for card transactions and payment processing.
- ThunessupportingCross-border payment infrastructure partner for international money transfers.
- uqudosupportingDigital identity verification and KYC technology partner.
Scale indicators5 records
Recent moves7 records
Expansion highlights5 records
Ooredoo Fintech competitors and assessment
Company assessmentDirect peers
- bKash: Bangladesh's dominant mobile financial services platform with a similar underbanked-population thesis and agent-based distribution model. Comparable product set (P2P transfers, bill pay, merchant payments, salary disbursement) and comparable scale trajectory.
- Easypaisa (Telenor Microfinance Bank): Pakistan's leading telco-affiliated mobile money wallet, originally launched by Telenor. Most directly comparable to Ooredoo Fintech given identical telco-backed mobile money model serving underbanked populations; CRO Kamran Ullah was previously in Easypaisa leadership.
- e& money (Etisalat): UAE-based Etisalat's digital wallet and financial services arm. Comparable GCC telco-embedded fintech with consumer and merchant wallet products, cross-border remittance, and bill pay offerings.
- stc bank (formerly STC Pay): Saudi Telecom Company's digital wallet and banking subsidiary. Comparable telecom-affiliated fintech operating in a core GCC market adjacent to Ooredoo Fintech's footprint, offering P2P, bill pay, and remittance services.
- Orange Money: Orange Group's mobile money service across Africa and the Middle East. Comparable telco-embedded wallet model with cross-border money transfer and merchant payment capabilities across multiple MENA/African markets.
- MTN MoMo: Pan-African mobile money operator across MTN's telecom footprint. Closely comparable as a multi-market telco-embedded mobile money business with cross-border remittance ambitions and similar GTM (USSD/app, agent networks).
- M-Pesa (Vodafone/Safaricom): Largest telco-backed mobile money platform globally, originating in Kenya. Closely comparable business model (telco distribution, agent cash-in/out, P2P, bill pay, business payments) and historically Vodafone-affiliated, overlapping with Ooredoo Fintech CEO Giacco's Vodafone background.
Emerging players
- Payit by Network International: UAE-based digital wallet with cross-border and merchant payment capabilities. Comparable emerging regional MENA wallet player with similar cross-border, remittance, and merchant acquisition GTM.
Regional players
- Careem Pay: MENA super-app expanding into payments and financial services. Comparable regional MENA fintech targeting consumers and small merchants with wallet and payment products, though primarily ride-hailing-led distribution rather than telco.
Broad incumbents
- Airtel Money: Bharti Airtel's mobile money arm operating across India and Africa. Comparable large telco-backed mobile money business with cross-border remittance and merchant payments at significant scale.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Ooredoo Fintech social profiles
Digital presenceOoredoo Fintech financial estimates
Financial estimateRevenue estimate
Valuation estimate
Ooredoo Fintech leadership team
Management profileNumber of profiles
Profiles9 records
Ooredoo Fintech funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Ooredoo Fintech M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Ooredoo Fintech
What does Ooredoo Fintech do?
Ooredoo Fintech operates a portfolio of branded mobile wallets—Ooredoo Money in Qatar, mFaisaa in the Maldives, and walletii by Ooredoo in Oman and Tunisia—delivered through a shared 'Build Once, Deploy Everywhere' platform architecture. Core services include international money transfers (covering 200+ countries), local and cross-border remittances, bill payments, merchant payments, cash-in/cash-out via agent networks, E-KYC onboarding, and business solutions including IBAN business wallets and WPS salary disbursements.
Is Ooredoo Fintech a public or private company?
Ooredoo Fintech is a private company. It is classified as corporate owned and is currently operating.
When was Ooredoo Fintech founded?
Ooredoo Fintech was founded in 2022. It employs 101 to 250 people.
Where is Ooredoo Fintech based?
Ooredoo Fintech is headquartered in Lusail, Qatar, in the Middle East region.
How does Ooredoo Fintech make money?
Three revenue lines are on record. Money Transfer Fees are the primary driver. The others are bill Payment Services and business Wallet Services.
Who are Ooredoo Fintech's main competitors?
Direct peers on record are bKash, Easypaisa (Telenor Microfinance Bank), e& money (Etisalat), stc bank (formerly STC Pay), Orange Money, MTN MoMo and M-Pesa (Vodafone/Safaricom). Payit by Network International is listed as an emerging player. Careem Pay is listed as a regional player. Airtel Money is listed as a broad incumbent.
Does Ooredoo Fintech have an API?
No public API is recorded for Ooredoo Fintech.
What industry is Ooredoo Fintech in?
Ooredoo Fintech's product category is Mobile Money / Digital Wallets. Its primary akta.pro industry code is FSAMAEAA, General-Purpose Digital Wallets (P2P + Merchant), with a secondary code of FSAGABAK, Cross-Border FX, Multi-Currency & Treasury for Payments. Its NAICS code is 52 and its SIC code is 6199.