The popular payment method was launched in 2017 by Next-Generation Communications, which operates in the Kurdistan-Erbil region of Iraq. A lot of people in the Kurdish region of Iraq use mobile payments. The company has quickly become the most important player in the market there. FastPay is the only major player with a wide distribution of its POS devices. Another way the company was able to get more people to use their service is through strong partnerships and giving out special vouchers through their platform.
FastPay is Iraq's fastest, most convenient, and safest mobile wallet. Millions of people will use it for shopping, mobile recharge, internet recharge, money transfers, bill payments, and betting on esports. The payment method has thus become popular with esport's betting sites.
Currently, it can only be used in Iraq because the user must have a cell phone number in Iraq to register. Due to this, it has been hard to spread outside Iraq. The company is working to solve the problem so that it can get into the global market as well.