Fonepay, Nepal’s largest interoperable payment network, has launched its first virtual credit card in collaboration with Compass Plus Technologies. The digital credit card is available through mobile banking apps and accepted at over 1.5 million merchants. It aims to enhance the country’s digital payment infrastructure and financial inclusion.
BBK has deployed SymphonyAI’s AI-driven anti-money laundering technology to enhance its transaction monitoring and customer due diligence processes across multiple countries. The AI-powered solution helps the bank improve financial crime detection, reduce false positives, and ensure compliance with evolving regulations in Bahrain, Kuwait, India, Turkey, and the UAE.
Contact Pay has expanded its partnership with eKhales, a digital payment platform, enabling customers to pay installments and bills through eKhales’ network of over 600,000 point-of-sale (PoS) terminals across Egypt. This collaboration, announced at Cairo ICT 2024, enhances flexibility and accessibility for Contact customers nationwide.
The Bank of Bahrain and Kuwait (BBK) has deployed SymphonyAI’s AI-based anti-money laundering (AML) technology to enhance its transaction monitoring and compliance processes across multiple regions. The scalable platform improves detection accuracy, reduces false positives, and adapts to evolving regulations, strengthening BBK’s fight against financial crime.
MoneyGram has partnered with Comera Pay to offer seamless cross-border remittances from the UAE to over 200 countries via MoneyGram’s global network. Integrated into the Comera app, this collaboration supports the UAE’s transition to a cashless society, leveraging Comera Pay’s recent approval by the UAE Central Bank.
LankaPay has become Sri Lanka’s digital backbone, driving economic growth through secure digital payment solutions. In 2023, its transactions exceeded the nation’s GDP, highlighting its impact on financial efficiency. With innovations like SLIPS, JustPay, and LankaQR, LankaPay is revolutionizing payments, fostering inclusivity, and enhancing government revenue collection.
Fonepay, Nepal’s leading payment network, has launched its first virtual credit card in collaboration with Compass Plus Technologies. The service offers a secure, flexible, and cost-effective digital payment solution for local financial institutions, with the goal of transforming Nepal’s payment ecosystem and providing a strong alternative to international card networks.
Swypex has partnered with Visa to revolutionize business payments in Egypt, offering solutions that streamline financial operations, improve efficiency, and manage corporate spending. With rapid growth since its 2024 launch, Swypex equips businesses with corporate cards and smart controls, providing real-time tracking and seamless ERP integration.
Qatar Central Bank has launched a regulatory framework for digital banks to enhance the country’s financial sector. This move supports Qatar’s digital economy and financial inclusion, allowing 24/7 banking through mobile and online platforms. The framework aims to reduce costs and foster innovation in line with Qatar National Vision 2030.
Jazeera Airways and Bahrain Exchange Company have launched Travel Cash, a service that allows travelers to quickly and securely exchange currency while booking flights. With a fast “Click, Pick, and Go” experience, passengers can pick up their currency at BEC branches or Jazeera Terminal 5, offering a more efficient solution.
