Saudi payment solution provider CashIn acquires Cardless
The acquisition will enable CashIn to offer digital card procurement solutions through its platform.
Saudi Arabia-based fintech company CashIn on Tuesday said it acquired Cardless, a digital payment provider, for an unknown amount, marking its first acquisition in the POS and digital payment solutions sector.
The acquisition will enable CashIn to offer digital card procurement solutions through its platform.
The company described the acquisition as a significant step in expanding its business and entering the digital card space through its "CashInCards" service, according to a statement shared on Wamda.
The service will enable over 20,000 merchants to issue digital cards and add them to their products, earning commissions through digital wallets without any credit limits.
CashIn CEO Omar Al-Ramah said that the acquisition of Cardless was part of CashIn's strategy to cater to the retail sector's needs by leveraging Cardless' customer database and 10 years of experience.
CashIn, founded in 2021 by Omar Al-Rammah, Obay Al-Madhi, and AbdulKarim Zureik, offers a range of fintech solutions, including POS, payments, e-invoicing, inventory management, and supply management, with fintech modules tailored for various retail industries on a single platform.
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Edited by Suman Singh
