JeelPay | جيل باي

JeelPay is a FinTech company that developed a solution to facilitate the payment and collection process in the educational institutions, where parents can pay the tuition fees in monthly basis as a “Study Now Pay Later” model, while schools can collect their money up-front instead of time-consuming collections.

https://www.jeel.co/

11-50 employees

Growth Trajectory

Jeel Pay aims to expand its partnerships with educational institutions, increase the number of students using the platform, and develop new Sharia-compliant financial products for the education sector. They are also focusing on improving their mobile app and platform functionalities and exploring opportunities in geographic markets with similar educational payment needs.

Technical Challenges

Ensuring secure and reliable electronic payments.

Seamless integration with various school systems.

Maintaining compliance with the Personal Data Protection Law (PDPL) and other relevant regulations.

Preventing unauthorized access attempts and ensuring data security.

Handling increasing transaction volumes and user base growth

Tech Stack

Mobile applicationWeb platformElectronic payment systemsCookiesWeb beaconsMobile application plugins

Team Size

Key Risks

Competition from traditional financial institutions offering educational loans or payment plans.

Ensuring the security and reliability of payment processing and compliance with SAMA regulations.

Potential challenges in user adoption of digital payment solutions in the education sector.

Dependence on third-party service providers for payment processing, leading to potential errors or delays.

Maintaining Sharia compliance while offering competitive and flexible payment options.

Opportunities

Expanding partnerships with more educational institutions within Saudi Arabia and potentially in other regions.

Developing new Sharia-compliant financial products and services tailored for the education sector (e.g., financing for books, uniforms).

Improving the user experience of the mobile app and platform to increase user adoption and engagement.

Leveraging data analytics to improve service offerings and personalize the user experience while adhering to privacy regulations.

Exploring strategic alliances with other financial institutions or technology providers to expand market reach and service capabilities.

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