Ali Kassab connects the region with simplified payment solutions

22 February 2017; Dubai, UAE

UAE businessman, Ali Kassab, is leading the region’s digital revolution and changing the way companies manage payment solutions. The entrepreneur has recently ventured into private equity funding with the launch of AKA Partners. His firm will be investing in fin-tech businesses across the Middle East region, starting with Wow Pay MENA, a digital payment platform. He has also been appointed CEO of MBME, a veteran in the payment industry which is the leading kiosk payment solution provider in the UAE.

Since the company’s formation in November 2016, AKA Partners has made three key investments into the digital payments and ICT industries over the last two months. A joint venture with a leading Abu Dhabi-based group, Wow Pay MENA is one of the firm’s first major investments. A payment solution at point of sale (POS), Wow Pay’s objective is to empower retailers with comprehensive digital payment solutions for their business, while making consumers’ lives simpler through convenient payment options. In February 2017, Wow Pay MENA acquired 100 per cent shares in Sky Telecom Tunisia, rebranding the company to Wow Pay Tunisia and embarking with the launch of 700 POS across the country before end of Q1 2017.

A well-known regional business figure, Kassab recently stepped down as CEO at Sky Telecom Group to pursue his plans of accelerating the growth of SMEs across the region. His latest direction is in line with the UAE Government’s own focus on SMEs as a driver for the economy and innovation, a key part of the 2020 Plan. Since his departure from Sky Telecom, Mr Kassab retains ownership of Sky Telecom Tunisia and its employees (now Wow Pay Tunisia). Sky Telecom UAE continues to be managed by Bin Butti International Holdings (BBIH), pursuing its vision to be a leading digital enabler for telecommunication services.

“Nearly AED845 billion of consumer payments to government entities and merchants are processed each year in the UAE,” says Kassab. “As the region’s payments become cashless, I believe in empowering companies with the technology and know-how to

capitalise on the digital revolution, creating simplified yet comprehensive payment solutions which combine efficiency, flexibility and enhanced customer satisfaction.”

Kassab is a self-made businessman and serial entrepreneur whose interests range from technology to telecommunications. A tireless innovator, he has over two decades of experience across multi-national cloud software organizations and digital payment companies, building them into multi-billion dirham enterprises. During his ten years as CEO of multi-national IT companies, he has led the way in terms of enhancing customer experience, driving the region’s cloud revolution, evolving telecoms technology, and transforming the retail experience, generating additional revenue through new and innovative channels.

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About AKA Partners 
AKA Partners is a leading global private equity firm that have proven experience as successful entrepreneurs in ICT across the MENA. We offer capital, expertise, digital platform and our network of relationships to create value for our stakeholders.

We participate directly in the entrepreneurial process. Our specialist partners invest in and mentor high quality startups and early stage companies and focus investments exclusively on ICT businesses.

AKA Partners is a low volume, high value-add firm that makes only a limited number of investments per year, identifying specific companies and transforming them into predictable, high cash flow businesses.

About Wow Pay 
WOW PAY MENA is a Regional Digital Payment Platform providing Cashless and Effortless end-to-end user solutions. A smart, fast and secured payment solution over thousands of touch points across the region to enable cashless transactions across all channels: Web, Mobile, POS.

  • FREE: WOWPAY is free, No extra charges to the customer
  • EASY: Pay using cash, mobile wallet or credit card.
  • SECURE: All your information and transactions are protected
  • CONVENIENT: No need to carry cash, use your smart phone for payments
  • AVAILABLE: Large network of POS Merchants and Kiosks are available

About Ali Kassab
Throughout his 18-year career in building digital and customer experience, Mr. Ali Kassab has been a tireless innovator and technology enthusiast. His early experiences at leading retail and telecoms companies across the region shaped his later business ventures – including international sales, ICT, marketing, and consultancy – in the Middle East. Over his ten years as CEO of multinational IT companies, Mr. Ali Kassab has led the organisation in enhancing customer experience, driving the cloud revolution, evolving telecom technology, and transforming retail experience.

Contact AKA PARTNERS:
Marketing Dept: Info@aka-partners.com
Dubai: +971 56 663 9888
London: +44 203 129 3231

© Press Release 2017