Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
stc pay Bahrain has partnered with GCC fintech Local to launch next-generation QR payment solutions for restaurants and service businesses, enabling instant scan-and-pay experiences and advancing digital payments across the region.
Pakistani fintech Abhi has partnered with UAE’s Numou to deliver embedded financing for SMEs, helping businesses unlock faster working capital availability and strengthen economic resilience in the region.
Egypt Post has unveiled Egypt’s first mobile-based investment platform, enabling simple access to diversified funds and supporting financial inclusion. “Felousy” strengthens Egypt Post’s role in digital transformation while new services such as Easy Pay upgrades and smart parcel lockers expand convenience and modernized service delivery nationwide.
Payment24 has taken a major step in its Middle East expansion, opening a regional hub in Dubai and securing major contracts in the UAE and Saudi Arabia. The move underscores rising demand for advanced fleet, fuel, and retail payment technologies across the Gulf Cooperation Council (GCC).
India’s NPCI International Payments Limited and Bahrain’s BENEFIT have linked UPI with Fawri+, enabling instant, secure cross-border remittances for millions, especially Bahrain’s Indian community. Simultaneously, NBBL launched forex services on Bharat Connect, expanding India’s retail digital finance ecosystem.
Bahrain’s BENEFIT and India’s NIPL have signed an agreement linking Bahrain’s Fawri+ with India’s UPI systems. The collaboration enables instant, secure cross-border payments between both countries under the supervision of CBB and RBI, enhancing digital financial connectivity and remittance efficiency.
Oman’s FinTech Market to Hit RO 1.1 Billion by 2025, Fueling Investor Confidence and Startup Innovation
Oman’s financial sector is undergoing a transformative shift, with the FinTech market projected to reach RO 1.1 billion by 2025, representing a 16% compound annual growth rate (CAGR). The forecast, revealed at the “Building a Future-Ready Bank” summit by IBS Intelligence and Cedar, signals Oman’s emergence as a regional hub for financial innovation.
The Central Bank of Oman (CBO) has been pivotal in this rise through its Innovation Acceleration Programme and Regulatory Sandbox, fostering pilot projects, testing new technologies, and enabling a tiered digital-bank licensing framework. This forward-looking regulatory environment has propelled the number of FinTech firms from 26 to 42 within a year, with 16 new licenses issued in 2025 and 52 more under review.
Key growth areas include digital payments (22%), personal finance, trading, and crowdfunding (19% each) — signaling strong demand for financial inclusion and smarter investment solutions. Oman’s push toward a digital-first financial system is reinforced by its national AI policy, alignment with Oman Vision 2040, and global recognition as the fourth-best developing economy for ICT-related FDI.
Backed by initiatives like the RO 25 million Inma Fund for SMEs and 14.5 million digital transactions via OmanNet in early 2025, the Sultanate’s FinTech ecosystem offers fertile ground for both local entrepreneurs and global investors. This convergence of innovation, regulation, and investment is positioning Oman as a regional leader in digital finance and technology-driven growth.
BENEFIT will represent Bahrain at the Singapore FinTech Festival 2025, showcasing technologies like BenefitPay and the Bahrain Credit Reference Bureau. The company’s participation supports Bahrain’s vision to become a regional fintech powerhouse, fostering global partnerships, digital innovation, and sustainable growth in alignment with Economic Vision 2030.
eNovate, in partnership with Visa and Arab Bank, has launched Rize — Egypt’s first digital banking ecosystem for university students. Combining ID functionality with smart payments, Rize aims to promote youth financial literacy, inclusion, and digital innovation across Egyptian campuses.
DisrupTech Ventures’ investment in Chari marks a strategic step toward scaling inclusive fintech solutions across Africa, enabling digital payments and financial access through Morocco’s vast retail network.