Co-founders Forough Firouzi and Kiarash Vahedi, of PAYBYBIT PAYMENT SERVICES PROVIDER CO. L.L.C, have led their company to win the Best Web 3.0 and AI Startup of the Year and the People’s Choice Award at the Middle East Startup Awards 2022-23. As representatives of the Middle East, they are proudly showcasing their innovation at the , solidifying PaybyBit’s role in driving regional and global fintech advancements. Their platform is revolutionizing cryptocurrency transactions, positioning the UAE as a key player in the global digital economy. By focusing on simplifying decentralized payment solutions, they have set a new standard for financial services. PaybyBit’s success highlights its significant impact on the digital economy, actively expanding its ecosystem through strategic partnerships. Their commitment to integrating web3.0 technologies empowers businesses and governments to navigate the future of finance confidently. The recognition they’ve received emphasizes the potential of UAE startups in leading global innovation. PaybyBit’s user-centric approach continues to redefine financial transactions, ensuring they are secure, transparent, and accessible, paving the way for a more inclusive digital financial landscape.
PaybyBit, operating under PAYBYBIT PAYMENT SERVICES PROVIDER CO. L.L.C, is a fintech startup based in Dubai, UAE, focusing on decentralized cryptocurrency payment solutions. The platform is designed to cater to both in-store and online businesses, as well as fintechs and government entities, enabling them to accept and manage cryptocurrency payments seamlessly.
Key services offered by PaybyBit include:
- Cryptocurrency Payment Gateway: Merchants can integrate PaybyBit’s API into their websites for online transactions or use QR codes and mobile POS applications for in-store payments. The platform supports multiple cryptocurrencies, ensuring broad customer accessibility.
- Flexible Settlement Options: Merchants can choose to settle transactions in fiat currency by providing their bank account details, or directly in cryptocurrency by linking a wallet address for real-time withdrawals.
- Payroll Solutions: Companies using PaybyBit can also fund employee accounts, making payroll management more efficient and convenient with cryptocurrency.
- User-Centric Features: For customers, PaybyBit provides an easy-to-use interface to select their preferred cryptocurrency, make payments, and have their transactions verified and processed in real-time.
PaybyBit is rapidly gaining recognition in the fintech landscape, having won significant awards like the Best Web 3.0 and AI Startup of the Year and the People’s Choice Award at the Middle East Startup Awards 2022-23. The company is committed to expanding its services and is actively seeking partnerships across various sectors to enhance its offering and drive digital financial innovation in the region.
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Aleksei Dolgikh
Amazing team, fully recommended to work together!