FLOOSS has partnered with Bahrain Channels to offer Shariah-compliant financing for purchasing smart devices. The collaboration enables customers to buy products through flexible monthly installments, enhancing the shopping experience. The agreement aims to provide accessible financial solutions and promote the growth of Bahrain’s retail and digital sectors.
PalmPay has partnered with Jumia to enhance Nigeria’s digital payment ecosystem, allowing Jumia shoppers to pay using PalmPay wallets. This collaboration aims to improve user experience and drive the adoption of cashless transactions, signaling the beginning of a long-term partnership to boost innovation and digital payments across Africa.
Egypt has seen a remarkable 181% increase in financial inclusion over the past eight years, with 71.5% of eligible citizens gaining access to banking services. Key initiatives, including targeted events and programs for underserved groups, have contributed to this growth, fostering economic development and access to financial services across the nation.
Paymob has integrated Apple Pay for Egyptian merchants, marking a milestone in Egypt’s digital payments transformation. The partnership enhances consumer convenience and security, enabling contactless payments via Apple devices. This integration aligns with Egypt’s Vision 2030, promoting financial inclusion and boosting the digital economy as the nation embraces fintech innovation.
Oman saw a dramatic rise in mobile payments in 2023, with mobile transactions growing by 700% and the value processed through the MPCSS reaching OMR 1.44 billion. The surge highlights the country’s shift towards digital financial solutions, driven by the Central Bank’s modernization efforts and broader adoption of secure payment systems.
Kuwait’s Ministry of Finance signed an agreement with Microsoft to enhance digital transformation and financial systems through AI and cloud services. The partnership will focus on upgrading financial services, improving government connections, and providing technical support. Joint workshops will be held to develop collaboration plans for achieving the Ministry’s objectives.
PayTabs has partnered with Concept Combined Group Kuwait to launch PayTabs Kuwait, aiming to enhance digital payment services in the country. The initiative will provide secure and efficient payment solutions, particularly for SMEs, and support Kuwait’s digital transformation goals under the ‘New Kuwait 2035’ vision.
Apple Pay has officially launched in Egypt, enabling users to make secure, contactless payments using Apple devices. The initial rollout includes partnerships with major banks like the National Bank of Egypt, Banque Misr, and CIB. This marks a significant step toward Egypt’s digital payment transformation and financial inclusion.
Egypt has achieved a 181% increase in financial inclusion between December 2016 and June 2024, expanding financial access to 48.1 million citizens. MSMEs have also seen substantial growth, with microfinance funding rising 1,350%. Efforts include expanding financial technology and supporting women’s empowerment and public service improvements.
HRH Prince Salman bin Hamad Al Khalifa met Crypto.com president Eric Anziani to discuss Bahrain’s commitment to advancing financial services and digital technology. During the meeting, they explored Bahrain’s role in fostering investment in fintech and received a new Mastercard prototype from Crypto.com, marking a milestone for the region.
