Riyadh - Sharikat Mubasher: NearPay, a Riyadh-based fintech company, announced that its NearPay SoftPOS solution received Jaywan Contactless L2 approval, confirming its compliance with Jaywan contactless terminal requirements.

The approval reflects a significant milestone in NearPay’s journey to expand its payment technology and infrastructure across regional markets, the company announced today.

This milestone strengthens NearPay's technology readiness to support the Jaywan ecosystem. Jaywan Contactless Level 2 (L2) approval is a mandatory technical certification for payment terminals and Software POS (SoftPOS) applications to securely process contactless transactions via Jaywan, the UAE’s national card scheme. The scheme requires terminal software to have a validated Level 2 kernel to handle Jaywan data and cryptography.

Last month, NearPay launched the NearPay Banking platform to empower financial entities and payment companies to operate and manage digital financial services. The platform brings together merchant operations, payments, settlements, and other digital financial services within a single ecosystem.