Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
The UAE continues to strengthen its position as a global fintech hub, driven by advanced infrastructure, supportive regulations, and growing investment, with the market expected to reach $5.71 billion by 2029.
Moroccan fintech Mynk enables instant peer-to-peer payments through a mobile wallet app that uses phone numbers instead of bank details. The platform aims to increase digital payment adoption and improve financial inclusion in Morocco.
Arab Bank’s fintech accelerator AB Xelerate has partnered with Fuze to explore regulated digital asset services in Jordan. The collaboration will evaluate use cases, product design, and technical integration through Jordan’s regulatory sandbox, supporting the country’s digital finance ecosystem.
Algeria’s fintech ecosystem is gradually developing with 30–35 startups, evolving regulations, and initiatives such as the Fintech Strategy 2024–2030 and PAPSS integration. Startups like Banxy, DFA, ESREF Pay, and Yassir are helping expand digital payments and financial services as the country builds the foundations of its digital finance sector.
Simpaisa has acquired Bangladeshi payment gateway aamarPay and invested nearly $1 million to expand digital payment services. The deal marks a foreign fintech investment in a licensed Payment System Operator and aims to strengthen Bangladesh’s payment infrastructure, support cross-border transactions and promote financial inclusion.
Bank Nizwa has launched Apple Pay, offering its customers in Oman a secure and Sharia-compliant mobile payment solution. The service enables contactless transactions via Apple devices, utilizing tokenization for enhanced privacy. This rollout supports Oman’s national digital transformation goals and provides a modern, cardless banking experience for Islamic finance users.
Network International and ADCB Egypt have launched the FICO Falcon Fraud Manager to enhance digital transaction security in Egypt. Utilizing AI and machine learning, the system provides real-time fraud detection through behavioral profiling. This partnership strengthens the region’s financial defenses and supports the growth of secure digital payments.
Basata Holding has expanded its cash-in and cash-out services to all mobile wallets across its 120,000 POS terminals in Egypt. Moving beyond its Vodafone Cash exclusivity, the move supports Egypt’s 40 million wallet users by providing widespread access to deposits and withdrawals through local merchants, significantly advancing national financial inclusion.
Algerian fintech startup Gifty launches a unified digital payments platform enabling bill payments, mobile top-ups, e-commerce purchases and digital gifting as it aims to expand financial inclusion and evolve into a neobank.
This partnership represents a critical step toward financial inclusion by bridging the gap between digital-first FinTech programs and traditional banking infrastructure. By providing a scalable foundation for future service expansions, the collaboration empowers digital operators to offer more comprehensive, user-centric financial products that are fully supported by Egypt’s established banking network.