Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
XPay has partnered with Huawei Cloud Services to enhance digital payment systems for businesses in Egypt. The integration of Huawei’s cloud technology will scale XPay’s services, supporting financial inclusion through multiple payment methods. This move is part of Huawei’s broader push into the fintech sector globally.
VEON’s CEO, Kaan Terzioğlu, emphasized that regulatory reforms in Bangladesh could unlock the country’s potential for digital financial services, transforming the economy within three years. With the right reforms, VEON plans to expand digital offerings, including financial services and telecom, to foster growth and increase profitability in the market.
Malaysia and Bahrain are set to sign several collaborations, including in Islamic fintech, by May this year. Prime Minister Anwar Ibrahim highlighted key areas such as fintech, education, and bilateral investments, emphasizing the importance of research and cooperation to enhance capabilities in digital and energy transitions.
Trevi, an e-payment and loyalty app, has launched in Egypt, offering secure transactions, instant cashback, and rewards with no cap. Partnering with Paymob, Trevi aims to revolutionize digital payments, targeting 11.4 million users by 2029. Upcoming features include SNPL and Lending & Leasing services for a comprehensive financial solution.
Pass Delivery has partnered with SkipCash to introduce Card on Delivery (CoD), allowing customers in Qatar to make secure cashless payments for doorstep deliveries. This collaboration aims to streamline transactions, enhance security, and reduce cash-handling risks, contributing to Qatar’s shift toward a cashless society.
Nepalese fintech companies Khalti and IME Pay have signed an MoU to merge, marking the country’s first-ever digital wallet consolidation. The merged entity may be named ‘IME Khalti’ or ‘Khalti Pay.’ This move follows a regulatory change by Nepal Rastra Bank, allowing digital wallet mergers under certain conditions.
Kuwait International Bank (KIB) has signed a strategic MoU with PayTabs Kuwait to enhance its digital payment solutions for businesses. The partnership aims to provide customized services for merchants, fostering economic growth, and supporting digital transformation in Kuwait. This move reinforces KIB’s commitment to expanding its customer base.
Bangladesh leads mobile money adoption in South Asia, with 224.5 million registered users in 2023. Mobile financial services like bKash are driving financial inclusion, facilitating remittances, and offering a range of services. The sector has shown remarkable growth, with mobile money contributing to economic development and financial access for all.
Barq, a Saudi fintech company, has partnered with Alipay+ to enhance cross-border payments, becoming part of Alipay+’s international network. This collaboration supports Saudi Arabia’s Vision 2030 by improving financial transactions and boosting tourism. Barq’s previous partnership with Mastercard in 2024 further strengthens its payment solutions.
Bahrain’s central bank is drafting regulations for stablecoin issuance to reduce transaction costs and expand financial access. The proposed laws aim to regulate digital assets, enhance security, and reduce risks like fraud and money laundering. The central bank will also monitor activities through blockchain tracking tools.