Trust Smart Solutions (TSS), a leading provider of merchant solutions and payment services in Middle East and North Africa formally announced the partnership with 4th Wave, a Canada-based Finance and Banking As-A-Service Platform provider.
Through this strategic partnership, Trust Smart Solutions will provide the 4th Wave Platform-as-a-Service for the Levant markets. Financial Institutions and Businesses across Levant can now take advantage of the richness, modularity and simplicity of the platform, according to a TSS statement on Monday.
Digital payments have seen a steep growth in Levant in the recent years, the statement said, adding that there is a plethora of offerings in the region. However, the profitability of most of these offerings continues to be doubtful, according to the statement.
The PaaS offering from TSS, the statement noted, addresses the economic viability and long-term sustainability for affiliate institutions.
TSS is doing this by re-imagining and democratizing concepts and propositions in payments, loyalty, BNPL, reward automation and lending, to name a few, the statement pointed out.
For instance, in the lending arena, where SMEs remain the backbone of the Levant economy, there is a concerted government push to address the huge credit gap to those SMEs.
The lenders have, however, been unable to address this credit gap because of the limitations of the traditional methods of lending.
Therefore, the SME Financing PaaS proposition from TSS arrives as a set of technology enabled lending propositions tailor-made to address sector specific requirements. All designed to help empower SMEs, governmental and semi-governmental agencies efforts, the statement further added.
Source: Jordan News Agency