MoneyHash is expanding into Iraq through a new partnership with Baghdad-based fintech startup Wayl.
The goal is simple: help businesses tap into Iraq’s growing digital payments market.
What the partnership does
MoneyHash will connect its payment system to Wayl’s local infrastructure. That means retailers using MoneyHash can now accept Iraqi payment methods through one single integration.
This includes:
- International cards like Visa and Mastercard
- Local wallets such as ZainCash
- Bank-linked services tied to First Iraqi Bank
Instead of building everything from scratch, merchants can plug into Iraq’s payment system quickly and smoothly.
Why Iraq?
Iraq’s e-commerce sector is slowly gaining momentum.
The country has:
- A young population
- Rising smartphone usage
- Gradual modernization of the financial sector
But cash is still king. Digital payments are growing, but the infrastructure is still developing. That’s where companies like MoneyHash and Wayl see opportunity.
Wayl’s role
Founded in 2021, Wayl operates as a payment aggregator and merchant of record. In simple terms, it helps foreign and local companies navigate Iraq’s payment rules and compliance requirements.
It provides localized checkout systems and handles regulatory matters on the ground — something international firms often struggle with when entering new markets.
A broader trend
Regional payment companies are increasingly looking at Iraq as a frontier market. Gulf markets are becoming crowded and competitive, so firms are searching for growth in underdeveloped digital economies.
For MoneyHash, this partnership is part of a wider strategy: enter complex emerging markets by working with strong local players.
If digital commerce continues to grow in Iraq, deals like this could help shape the country’s next phase of financial development.
