In a bold move toward financial innovation, Tasheel, a unit of United International Holding, has officially launched Now Access, a new Saudi fintech firm focused on digitizing wage processing and payroll services across the Kingdom.
The company was unveiled on Tadawul, Saudi Arabia’s stock exchange, with an initial capital of SAR 10 million (approx. USD 2.6M) and planned investments of up to SAR 75 million (USD 19.9M). The project is a joint venture between Tasheel (75%) and NowPay Corp (25%), an Egyptian fintech player known for payroll and employee financial wellness services.
What is now Access?
Now Access will specialize in modern payroll infrastructure and wage processing, two areas increasingly in demand across Saudi Arabia’s growing labor market. The company’s core services will include:
- ✅ End-to-end payroll processing for businesses
- ✅ Salary disbursement platforms tailored to local labor needs
- ✅ Real-time access to earned wages for employees
- ✅ Compliance-ready systems aligned with local regulations
Timeline and Financial Impact
While the company is operationally formed, its financial impact is expected to reflect in Q3 2025. This follows a non-binding MoU signed in January 2024 between Tasheel and NowPay Corp. The agreement focused on building a specialized entity in Saudi Arabia’s fintech ecosystem, pending final regulatory approvals.
Once fully licensed, Now Access will inject the full SAR 75M investment to scale operations, build its technology platform, and establish partnerships with employers across sectors.
Why Wage Processing Matters Now
Digitized payroll is quickly becoming a priority in Saudi Arabia as the country works to modernize its financial systems under Vision 2030. Currently, wage access and salary disbursement in many sectors remain manual, fragmented, or delayed. This creates friction for both employers and employees.
Now Access aims to solve these issues by offering a secure, transparent, and flexible payroll solution, a much-needed service in sectors such as construction, hospitality, and retail, which have large workforces and high turnover rates.
This also aligns with the Kingdom’s broader push to:
- ✅ Expand digital payment adoption
- ✅ Support local fintech startups
- ✅ Form regional and international partnerships
- ✅ Improve employee financial inclusion
Strategic Regional Collaboration
By partnering with NowPay Corp, Tasheel is tapping into an experienced fintech player that understands wage-linked financial services. This collaboration shows how Saudi Arabia is not just importing technology, but adapting and localizing fintech solutions that meet its workforce and economic needs.