Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
OpenWay has partnered with a leading Moroccan bank to expand its Way4 payments platform across North Africa, including Morocco and Tunisia. This move marks OpenWay’s entry into Francophone Africa, enabling local banks to deploy digital-first payment solutions with robust, scalable technology and regional support.
EdfaPay is the first in Saudi Arabia and MENA to earn triple PCI MPoC certifications, underscoring its leadership in secure mobile payments and fintech innovation.
EazyPay and Mastercard launched Mastercard Receivables Manager in Bahrain, automating B2B virtual card payments to improve efficiency and cash flow. The platform requires minimal integration and reinforces Bahrain’s role as a fintech innovation hub in the growing global digital payments market.
Algeria joined PAPSS, expanding the network to 18 African countries. The move supports reduced transaction costs and faster cross-border payments, fostering stronger economic integration and trade within the continent.
The UAE’s fintech sector is rapidly advancing, transforming payments into seamless, secure, and personalized experiences that support the country’s digital economy growth. Key innovations include wearable payment technologies and a push toward a cashless economy, with Dubai targeting 90% digital transactions by 2026. Fintech also promotes financial inclusion by providing digital tools to unbanked populations. AI and machine learning enhance fraud detection and personalized services, boosting consumer trust. Strong regulatory support further accelerates fintech adoption and attracts global investment.
Sri Lanka’s Central Bank plans to increase daily digital transactions by 30%, raising volumes from 1.65 million to 2.15 million. Awareness campaigns across major cities will promote online banking and card payments to support a shift toward a cashless economy.
AFS and Oman Arab Bank enhanced their partnership to launch a scalable, tokenization-enabled digital payments platform, accelerating Oman’s digital banking transformation with support for Apple Pay, Samsung Pay, and Google Pay.
Western Union, Zoona, and Chipper Cash launched international money transfers in Zambia through the Chipper Cash app, combining global reach with local expertise to enable seamless cross-border payments for millions of users.
Revolut is entering Morocco with payments and FX services first, aiming for a neobank license within two years. It has appointed a local lead and is building a 60-person team. The move aligns with its European expansion and aims to drive digital finance transformation in Morocco.
Visa and MSMEDA report reveals strong digital payment growth in Egypt’s SMEs, driven by convenience, revenue gains, and e-commerce growth.