Egyptian payment orchestration company MoneyHash has partnered with Iraqi payment provider Wayl in a move that is expected to make it easier for regional and international businesses to enter Iraq’s growing digital economy. The partnership is designed to remove technical and regulatory barriers that often slow down expansion into new markets, particularly in countries with unique local payment systems.
“Expanding into markets like Iraq requires more than technical reach. It requires local understanding and trusted partners,” said Nader Abdelrazik, Co-Founder and CEO of MoneyHash. “Our partnership with Wayl reflects our approach to market expansion: working with strong local players to help businesses access new geographies while navigating payment complexity with confidence.”
At its core, the collaboration allows companies to access Iraq’s local payment methods without building complex infrastructure from scratch. By connecting MoneyHash’s orchestration technology with Wayl’s local payment network, merchants can now process both international card payments and Iraqi domestic payment methods through one unified system.
This initiative is significant for businesses looking at Iraq as a new growth market. Payment challenges are often one of the biggest obstacles when entering emerging economies. With this partnership, that barrier becomes much smaller.
Simplifying Market Entry Through Payment Orchestration
MoneyHash operates as a payment orchestration platform. In simple terms, it acts as a bridge between businesses and multiple payment providers. Instead of building separate integrations for each bank, wallet or payment gateway, companies connect once to MoneyHash’s system. From there, they can route transactions across various providers.
The platform provides a single API that integrates with more than 300 payment providers. This reduces transaction failures, improves approval rates and strengthens security for enterprises. By managing payment flows in one place, businesses can optimize performance and reduce operational complexity.
Wayl brings a different but equally important strength to the partnership. Based in Iraq, Wayl operates local payment infrastructure and provides access to widely used domestic wallets, bank-based payment options and localized checkout systems. It also operates as a merchant of record, meaning it can legally process payments on behalf of foreign companies while handling regulatory and compliance requirements within Iraq.
“Iraq represents a high-potential market with unique payment dynamics,” said Ali Ismail, Founder of Wayl. “Partnering with MoneyHash allows us to support global and regional merchants entering Iraq with localized payment solutions and the operational structure they need to succeed in the market.”
When combined, the two systems create a streamlined path into the Iraqi market. Companies can accept global card schemes alongside Iraqi payment methods without negotiating separate agreements or building custom solutions for each provider.
Building Strong Foundations for Regional Growth
MoneyHash was founded in early 2021 by Egyptian technologists Nader Abdelrazik and Mustafa Eid. Drawing on their experience in fintech and enterprise software, they built the platform to address a growing need for flexible and scalable payment infrastructure in emerging markets.
After launching its enterprise suite in early 2024, the company quickly gained traction among major regional organizations. Its technology is designed to make financial infrastructure more efficient and scalable, allowing businesses to focus on growth rather than backend payment complexity.
The company recently secured $5.2 million in pre-Series A funding. The capital is intended to support regional expansion and strengthen its position as a leading orchestration provider across the Middle East and Africa.
The partnership with Wayl reflects that expansion strategy. Iraq represents a market with strong potential but unique operational requirements. By working with a local partner that understands the regulatory and payment landscape, MoneyHash can extend its reach without compromising compliance or reliability.
