Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
BENEFIT participated in the “Innovation in Social Housing Sector” Summit, showcasing its digital financial solutions that streamline home financing and payments. The company highlighted its Bahrain Credit Bureau service and BenefitPay app, reinforcing its role in Bahrain’s digital transformation and commitment to enhancing the housing sector and citizens’ financial experiences.
Visa has made strategic investments in Tunisian fintech Konnect and Moroccan startup PayTic, enhancing its commitment to Africa’s fintech ecosystem. These investments are part of Visa’s ongoing USD 1B initiative, empowering startups with funding and mentorship. Konnect offers instant payments via shareable links, while PayTic provides compliance tools for financial institutions.
Maroc Telecom has partnered with Visa to integrate Visa’s payment services into MT Cash, its Mobile Money solution. This collaboration aims to enhance financial inclusion and expand digital financial services across Morocco and Africa. The partnership will help accelerate digital payments, targeting underserved populations and boosting e-commerce growth.
Aman Holding and Tanmeyah have partnered to offer digital financing and payment solutions, allowing Tanmeyah customers to manage their payments easily through Aman’s extensive retail network. This collaboration enhances financial accessibility and aligns with Egypt’s financial inclusion goals, making services available seven days a week.
Al Ansari Exchange has extended its strategic partnership with Visa to further enhance digital payments in the UAE. The collaboration aims to drive innovation, improve customer experiences, and expand digital payment solutions. The partnership has already led to growth in prepaid cards, fraud mitigation, and financial literacy initiatives.
Maseera, an Abu Dhabi-based financial services firm, has acquired Egyptian fintech startup ADVA to expand its presence in North Africa. The deal will allow Maseera to enhance its consumer finance portfolio, increase access to flexible financial solutions, and tap into Egypt’s growing digital finance market.
Khaleeji Bank has launched Visa+, a digital money transfer service that enables users to send funds across GCC countries using just the recipient’s mobile number, without needing card details or IBANs. This innovation enhances security and simplifies cross-border transactions, reinforcing Khaleeji Bank’s leadership in digital banking.
The Bahrain Ministry of Industry and Commerce has urged businesses to comply with Resolution No. (43) of 2024 by opening commercial accounts and adopting reliable e-payment systems before the June 13 deadline. The resolution aims to improve financial processes and enhance transparency in the kingdom’s commercial sector.
Fuze has received approval from the Central Bank of the UAE for a Retail Payment Services and Card Schemes license. This allows the company to offer advanced payment solutions, including AI-driven compliance, virtual IBANs, and real-time transactions, aligning with the UAE’s Digital Economy Strategy to drive financial innovation.
Visa has launched Visa+ in Bahrain, allowing users to send money across the GCC using only a mobile number. The service, available through Benefitpay and supported by Bahrain Islamic Bank and Khaleeji Bank, simplifies cross-border transfers, enhances security, and paves the way for further expansion across the region.