FastPay
“Can FastPay become Iraq's dominant digital payments and financial super-app by bridging the country's large unbanked population to cashless transactions?”
Founded2017
HQBaghdad, Iraq (with office in Erbil, Kurdistan)
IndustryFintech / Consumer banking
The story
FastPay launched in 2017 as Iraq's first major mobile digital wallet, targeting a largely unbanked population in the Kurdistan Region and beyond. The company expanded from basic P2P transfers to a full-service digital payments super-app covering mobile recharges, utility bills, online cards, and merchant QR payments. It serves both personal consumers and business merchants, positioning itself as Iraq's leading cashless payments infrastructure as the Central Bank of Iraq promotes financial inclusion.
Last 12 months
Product timeline
2017
FastPay Company for ePayment Limited founded in Erbil, Kurdistan Region of Iraq, launching as Iraq's first major mobile wallet.· banking
2019
Expanded services to include mobile/internet recharges, P2P transfers, and utility bill payments across Iraq.· pivot
2022
Achieved PA-DSS certification for payment application security, signalling compliance maturity.· banking
2024
Expanded to serve millions of users across Iraq with personal and business wallet accounts and merchant QR payment acceptance.· banking
2025
Partnered with e-Psula to enable electricity bill payments across Kurdistan Region.· banking
Regulated entities
1
regulatory licence held by FastPay
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
0 layers disclosed in FastPay’s embedded-finance stack
Accounting gap: none