- GCC are steadily advancing toward global leadership in adopting digital payment solutions.
- No current plans for IPO; focus remains on strengthening presence in the UAE and key international markets.
- Egypt stands out as one of the most promising markets for fintech adoption.
Interview by: Mohamed Badawi
Sissel Nielsen, Founder and Chief Executive Officer of PaySelect, the UAE’s first independent digital platform designed to simplify the search for payment service providers, revealed that the company is prioritizing expansion within the UAE this year, leveraging the country’s position as a regional hub for innovation and financial technology. She noted that Saudi Arabia and India are top priorities for 2026, given the strong demand and significant growth opportunities in those markets.
Speaking exclusively to FinTech Gate, Nielsen added that the company also plans to expand into several North African countries next year, where e-commerce and fintech are witnessing remarkable growth—particularly Egypt, which she described as one of the most promising markets. Egypt’s large population, vibrant small and medium-sized enterprise (SME) sector, and rapidly evolving digital payment infrastructure make it a key strategic target.
Nielsen emphasized that both the Saudi and Egyptian markets hold strategic importance, not only due to their size but also for their pivotal role in driving fintech adoption across the region.
Highlighting PaySelect’s ambitions, she said the platform aims to become a global marketplace for comparing and selecting payment solutions, already featuring over 200 listed providers worldwide. For now, the company has no plans for an IPO, focusing instead on building sustainable growth and consolidating its presence in the UAE and other international markets before considering additional funding options.
Q: You announced that your launch began in the UAE and that you have a vision for global expansion. Which markets are you targeting first outside the UAE?
A: Our immediate focus is on scaling in the UAE, which is already a hub for fintech innovation. Once established here, our next priorities are Saudi Arabia and India, where we see strong demand and significant opportunities. Both represent dynamic, high-growth markets with large merchant bases, progressive regulators, and strong demand for payment solutions. By entering these markets, we can provide real value where businesses are scaling rapidly and competition among providers is intensifying.
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Q: Do you have specific plans to expand into major markets such as Saudi Arabia and Egypt? What makes these markets particularly attractive to you?
A: Saudi Arabia is undergoing a remarkable transformation. With Vision 2030 opening its economy and encouraging international payment companies to enter, there’s clear space for comparison platforms like PaySelect to thrive. Egypt is equally compelling. It has one of the largest populations in the region, with a vibrant SME sector and a rapidly evolving digital payments ecosystem. Both markets are strategically important not only because of their size, but also because of the role they play in shaping wider MENA fintech adoption.
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Q: What factors determine your priorities for regional expansion?
A: For PaySelect to add value, there should be a healthy ecosystem — at least five or more providers — so merchants can genuinely compare and choose. Regulatory readiness is another critical factor. We only onboard licensed providers that meet international compliance standards. This ensures merchants know they are choosing from trusted, vetted partners, which reinforces our credibility and supports the regulators’ push for secure, transparent ecosystems.
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Q: Are you considering strategic partnerships with local banks or payment companies in the markets you plan to enter?
A: Yes. Partnerships are central to our growth. PaySelect already works with 15 providers operating across multiple markets, and we are expanding this network continuously. By collaborating with local banks and licensed payment companies, we create a win-win: businesses gain more choice, and providers gain qualified leads from merchants actively looking for solutions.
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Q: Do you have a clear timeline or roadmap for transitioning from your local market to other markets in the Gulf and North Africa?
A: This year we are focused on building awareness and traction in the UAE. In 2026, we plan to expand to Saudi Arabia and India, followed by selected North African countries where digital commerce and fintech adoption are accelerating. Our approach is phased, ensuring that we enter each market with a robust network of providers, regulatory alignment, and clear demand from businesses.
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Q: How do you assess the development of the digital payments sector in the GCC countries? What key trends are you observing?
A: The region is at an inflection point. We see first-hand innovations from our partners such as stablecoin settlements, virtual IBANs, and even biometric methods like handprint scanning. These are no longer distant concepts, they are already entering the market. Fintech providers are looking to PaySelect as a way to showcase these innovations and connect with merchants eager to adopt them. The pace of innovation is accelerating, and the GCC is positioning itself as a global leader in digital payments adoption.
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Q: Do you believe comparison platforms like PaySelect can accelerate economic digitization?
A: Absolutely. PaySelect lowers barriers to entry by guiding businesses through what has traditionally been a complex and fragmented landscape. By helping them adopt the right payment solutions, we accelerate the broader transition to digital commerce — which in turn drives financial inclusion, economic diversification, and regional competitiveness.
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Q: What sets PaySelect apart from other platforms or traditional approaches?
A: PaySelect is free and commission-free for businesses. Unlike traditional approaches, where merchants often depend on word-of-mouth or provider-driven sales, we provide transparent, unbiased recommendations. Our revenue model is based on commissions agreed with providers on successful transactions, while contracts remain directly between the business and the provider. This ensures we stay merchant-first, offering clarity and efficiency to both sides of the ecosystem without adding costs for businesses.
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Q: Are you facing competition from other platforms, and how will you maintain your edge?
A: At present, there are no direct B2B payment comparison platforms in the region. Most comparison tools focus on consumer products such as credit cards or personal loans. Some
experimentation exists in the US, but not with our model. Our edge comes from three things: our proprietary “Take the Test” tool, which makes complex decisions simple; our fast-growing network of providers; and our ability to scale that network into new markets, always aligned with regulatory requirements.
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Q: Do you have plans to add other financial services to the platform?
A: Payments are our primary focus because of their enormous global potential. Over time, we see opportunities to add value-added services that naturally complement payments, such as QR ordering, point-of-sale apps, and integrated financial tools. Our aim is to keep the platform merchant-centric and expand only where it enhances the payments journey.
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Q: How interested are you in expanding beyond e-commerce into sectors like education or healthcare?
A: Our listed providers already serve a wide range of industries — from education and healthcare to retail, hospitality, and travel. Our role is to ensure that businesses in every sector can access the right payment partner for their needs. Whether it’s a school, a hospital, or a retailer, PaySelect makes finding the right provider faster and more reliable.
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Q: Where do you see PaySelect in five years?
A: I see PaySelect as the global hub for comparing and selecting payment solutions, with at least 200 providers listed worldwide. Beyond connecting businesses with providers, we will also facilitate collaboration between providers themselves — enabling partnerships, cross-border connections, and innovation. With scale, we will generate powerful market insights that shape the future of payments, giving us a unique role as both connector and knowledge hub.
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Q: Are you considering investment or going public to support growth?
A: We are open to the right investor if it supports our vision and growth plans. For now, our focus is on building sustainable, organic growth. We want to prove the strength of our model in the UAE and our first international markets before considering further funding options.
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Q: How do you plan to leverage AI?
A: We’re enhancing our “Take the Test” tool with AI to make it even more intuitive and conversational. By asking merchants the right context-driven questions, we can generate tailored recommendations that match their unique business setup. This transforms what can be a daunting process into a seamless, conversational experience, helping businesses make confident decisions faster.
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