Egyptian fintech NowPay has entered the Saudi market through NowAccess, a newly formed joint venture with Tas’heel, the consumer finance subsidiary of United International Holding Company.
The move marks a strategic expansion for NowPay, which focuses on payroll infrastructure and employee financial wellness solutions. Under the agreement, Tas’heel has invested $20 million in the venture and will hold a 75% stake, while NowPay retains the remaining 25%.
The partnership follows a memorandum of understanding signed in early 2025 and comes as demand accelerates in Saudi Arabia for modern payroll, HR, and fintech infrastructure, driven by workforce digitalisation and broader economic reform initiatives.
NowAccess aims to combine NowPay’s experience in building payroll-linked employee financial products across the MENA region with Tas’heel’s established local presence, shariah-compliant balance sheet, and nationwide operational network of more than 310 service locations across the Kingdom.
“Saudi Arabia represents a high-growth market for payroll and employee financial solutions,” said Mostafa Ashour, Chief Executive Officer and Co-founder of NowPay. “NowAccess gives us the local expertise and operating depth required to scale quickly and compliantly, while extending our proven technology to employers and employees across the Kingdom.”
The $20 million capital injection will be used to establish a Saudi-based engineering and operations team, localise NowPay’s product suite for the Saudi market, and support the venture’s commercial rollout. NowAccess is currently in its market-entry phase, with employer partnerships expected to be announced as part of the formal launch.
Partnering with Tas’heel, NowPay looks to overcome the regulatory and operational barriers that often slow foreign fintechs entering Saudi Arabia. The joint venture is positioned to deliver payroll, HR, and payroll-linked shariah-compliant financial solutions tailored to local regulatory and workforce requirements.
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