FENIX has launched FENIX Pay, its inclusive payments service for the region. With FENIX Pay, users will have the convenience and flexibility to choose among multiple payment methods to access FENIX’s affordable and convenient services across five countries in the region.
“Although the Greater Middle East boasts a young and digitally savvy population—with smartphone penetration reaching 80 to 90 percent in leading markets—the region has remained heavily dependent on cash. Only about a third of retail transactions are conducted electronically, due to factors such as underdeveloped digital-payments infrastructure and services, underbanked consumer and merchant segments, and a cultural bias toward cash,” the company said.
Increasing payment options, therefore, is a necessity to allow more people to participate in the benefits of affordable electric mobility, and unleash urban potential via financial inclusion. FENIX Pay provides users with a range of options to pay for FENIX services including via credit cards, debit cards, mobile/telco credit, Apple Pay, and local digital wallets.
Commenting on the impact of FENIX Pay, Jaideep Dhanoa, Co-Founder and CEO of FENIX, said, “Mobility is a means-to-an-end and an enabler or limiter to get where you need to be, to do what you’re meant to do, to reach your potential. When we started FENIX we focused on mobility as the first domain where we can make a difference. It has quickly become apparent that financial inclusion is another major limiter in today’s economy. The Middle East is a diverse region with large income distributions. There are many people who could benefit from and want to use our e-mobility and delivery services but haven’t been able to only because they don’t have a credit card. Mobile payments in the region are failing these segments. So we have started building our own payments platform called FENIX Pay so we can remove this limiter and provide financial freedom for anyone to pay how they like.”
To serve underbanked customers, the company focused on where such consumers already have a stored value balance and identified direct carrier billing with telecom operators as an ideal channel. In the UAE and in Turkey anyone with a smartphone will be able to pay for FENIX services via live integrations with the two leading UAE national telecom providers – Etisalat and Du – and three leading Turkey telecom providers – Turkcell, Vodafone and Türk Telekom.
Later this quarter, FENIX Pay will also be integrated with leading telecom operators Mobily in the Kingdom of Saudi Arabia and with Batelco in Bahrain. The payments platform also includes seamless payments with Apple Pay across the region.
In addition, consumers are able to top up their FENIX Pay balance through cash-based vouchers in all operating markets including UAE, KSA, Bahrain, Qatar and Turkey. Users can simply approach a FENIX Associate in an operating area or when receiving a delivery and purchase a voucher using cash, card on delivery with Nomod, or local digital wallet transfers including STC Pay in Saudi Arabia and Benefit Pay in Bahrain.
IQ Sayed, Co-Founder and CTO of FENIX, said, “Innovation to create impact is in our DNA. We realized that in order to achieve our mission, we needed to address the payments barrier in our region. As the only vertically integrated electric mobility and deliveries platform focused on the Middle East, we feel an obligation to invest in local payments so all our consumers can participate in the benefits of affordable and convenient mobility. We have some of the most compelling use-cases for inclusive multi-channel payments. There is a lot that still needs to be done but we are very excited to be leading this effort in our region and exploring how we can bring more financial inclusion with FENIX Pay.”
FENIX Pay is launching immediately in all 5 countries where FENIX currently operates. The service has been developed in an exclusive partnership with Apaya, a modular, scalable platform enabling merchants to add a secure payments layer to their tech. In line with its mission, FENIX will continue to integrate additional alternative payment channels with local providers to unleash urban potential via financial inclusion in the Greater Middle East.
“We’re excited to partner with Jaideep, IQ and FENIX team, as the company continues to evolve its platform and offer urban residents an innovative mobility proposition,’” said Michael Tomlins, Co-Founder, and CEO of Apaya. “At Apaya we understand how traditional, international payment schemes are inaccessible to many and localised for a few. Local payments are an important component in the customer experience and in driving global commerce. By 2025, local payment methods will process 66% of e-commerce transactions as they are more accessible, flexible, and secure. We look forward to enabling more local payment methods and increasing financial inclusion in the Middle East for FENIX and its customers.”
FENIX operates the largest electric vehicle fleet in the Middle East, North Africa, and Turkey (MENAT) with over 10,000 vehicles. The company is driving innovations for the Middle East market, including the region’s first private e-scooter subscription service, MyFENIX; the world’s first integrated hand sanitization pack with its scooters, and Middle East’s first 10-minute convenience delivery service, F10.
FENIX e-bikes and e-scooters cost AED 1 / QAR 1 / SAR 1 / BHD 0.1 / TRY 1.5 per minute to ride and are the first in the region with No Unlock Fee. Residents and visitors can enjoy their first ride free for up to a few minutes using a new user promo code, while repeat commuters can receive benefits from the “Rise with FENIX” rewards program, offering free credits and discounts on a monthly basis, where the more you ride the more you save.
Riders can easily locate FENIX e-bikes and e-scooters by downloading the FENIX mobile application from iOS and Google Play stores and making use of the electric vehicles 24 hours a day.