Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
PayTabs has launched a platform to help SMEs accept digital payments securely and efficiently. With features like payment links and QR codes, the platform streamlines transactions and enhances business workflows. This collaboration with Mastercard advances Egypt’s digital payments sector and promotes financial inclusion for SMEs across the region.
e& Egypt has launched its first instant international money transfer service through the e& Cash digital wallet, allowing users in Egypt to receive remittances instantly and securely from the UAE and Saudi Arabia. This initiative enhances financial inclusion and simplifies cross-border transfers, supporting the country’s push towards digital financial solutions.
Maseera has acquired ADVA, a leading Egyptian consumer finance platform, to drive financial inclusion in Egypt. The acquisition will strengthen Maseera’s AI and data analytics capabilities, focusing on expanding credit access for underserved populations. ADVA will also seek Egypt’s first digital consumer finance license to enhance onboarding processes.
Maseera has acquired ADVA, an Egyptian consumer finance platform, to enhance its financial services. The acquisition aims to leverage AI-driven lending solutions to provide inclusive financing for underserved segments in Egypt, particularly in healthcare and education. This move supports Maseera’s global expansion and financial inclusion mission.
Pakistan’s digital payment channels processed 88% of retail transactions in Q2-FY25, with a 12% increase in transaction volume and a 28% rise in value. Mobile banking apps, e-money wallets, and branchless banking services played a pivotal role in driving growth. SBP’s initiatives continue to fuel financial inclusion and efficiency.
Pan Asia Bank has partnered with TerraPay to enable instant cross-border money transfers directly to bank accounts in Sri Lanka. This collaboration allows Sri Lankan migrants worldwide to send money quickly through TerraPay’s network, facilitating real-time transactions to over 1.5 billion bank accounts and mobile wallets globally.
Bank Alfalah and Warid Telecom have launched Mobile Paisa, a mobile money service in Pakistan. The service enables secure money transfers and utility bill payments. Supported by technology from Fundamo and Monet, Mobile Paisa aims to enhance convenience and security for everyday financial transactions across the country.
Boubyan Bank’s SME strategy focuses on customer-centricity, digital innovation, and financial empowerment. The bank leverages technology to offer seamless financial tools, including the Payout API and eRent, while providing tailored services such as Sharia-compliant financing and mentorship. Boubyan aims to enhance the SME ecosystem and become a regional banking benchmark.
Ant International has partnered with LankaPay to enable cross-border mobile payments via Alipay+ in Sri Lanka. Travelers from 10 countries can now use mobile payment apps at over 400,000 merchants across the country, enhancing payment convenience for tourists and boosting local businesses, with a focus on tourism-driven growth.
Cashee, a mobile banking app for kids and teens, is set to launch in Saudi Arabia. The app, backed by Arab National Bank, offers financial education and a prepaid Visa card to youth aged 6-18. Cashee’s goal is to help young people develop better money management habits.