Ixaris, an international innovator in global electronic payments originating from Malta, has inked a deal with 3omlti, an e-commerce solution provider based in the Middle East, to develop payment applications on the Ixaris payments server. The deal was signed in Riyadh, Saudi Arabia.

Ixaris said its payments server is a cloud-based platform that enables financial institutions to implement their own prepaid card programs with minimal time and effort. Dedicated to the creation of an electronic payments system in Saudi Arabia, with potential to extend it to the Gulf Cooperation Council (GCC) states and across the Middle East, 3omlti has adopted the Ixaris solution to give its offering the international component that will enable it to achieve this aim.

The payments market in the Middle East is undergoing rapid development. The demand for electronic payments – both for online purchases as well as for remittances – in the GCC, of which Saudi Arabia is the largest and most influential member, is undisputed.

Remittance payments total more than $60 billion each year, with approximately 15 million foreign workers who send a large share of their income home.

Alex Mifsud, founder and CEO, Ixaris, said “We are incredibly excited to be working with such an innovative financial player within the Middle East’s booming payments market. This move is synonymous with Ixaris’ wider mission to spur innovation in electronic commerce on a global scale.

Founded in 2002 and headquartered in London, Ixaris has technology and customer operations divisions in Malta.

http://www.ixaris.com/

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