Technology news and insights in the Middle East, South Asia, and Africa
Technology News and insights in the Middle East, South Asia, and Africa
SuperQi, launched by Qi Card in partnership with Ant International, is a next-generation digital app combining banking and lifestyle services. Aimed at boosting financial inclusion in Iraq, the app offers services like payments, transfers, loans, and mobile recharges. It targets over 15 million users, promoting a cashless society.
Algeria is set to launch a mobile payment system in January 2025, aiming to advance digital transformation and financial inclusion.
Pakistan’s digital payments surged by 9% in Q1 FY25, with mobile banking and e-commerce leading the way. The Raast system’s success highlighted the shift to digital wallets and mobile platforms. With continued growth in digital services, Pakistan is on track to enhance financial inclusion and drive economic development.
Paymob has integrated Apple Pay into its merchant network in Egypt, enabling consumers to use Apple devices for secure, seamless payments in-store, in-app, and online. This marks a significant step in transforming Egypt’s digital payments ecosystem, offering merchants and customers a modern and convenient payment solution that boosts sales and enhances experiences.
FLOOSS has partnered with Bahrain Channels to offer Shariah-compliant financing for purchasing smart devices. The collaboration enables customers to buy products through flexible monthly installments, enhancing the shopping experience. The agreement aims to provide accessible financial solutions and promote the growth of Bahrain’s retail and digital sectors.
PalmPay has partnered with Jumia to enhance Nigeria’s digital payment ecosystem, allowing Jumia shoppers to pay using PalmPay wallets. This collaboration aims to improve user experience and drive the adoption of cashless transactions, signaling the beginning of a long-term partnership to boost innovation and digital payments across Africa.
Egypt has seen a remarkable 181% increase in financial inclusion over the past eight years, with 71.5% of eligible citizens gaining access to banking services. Key initiatives, including targeted events and programs for underserved groups, have contributed to this growth, fostering economic development and access to financial services across the nation.
Paymob has integrated Apple Pay for Egyptian merchants, marking a milestone in Egypt’s digital payments transformation. The partnership enhances consumer convenience and security, enabling contactless payments via Apple devices. This integration aligns with Egypt’s Vision 2030, promoting financial inclusion and boosting the digital economy as the nation embraces fintech innovation.
Oman saw a dramatic rise in mobile payments in 2023, with mobile transactions growing by 700% and the value processed through the MPCSS reaching OMR 1.44 billion. The surge highlights the country’s shift towards digital financial solutions, driven by the Central Bank’s modernization efforts and broader adoption of secure payment systems.
Kuwait’s Ministry of Finance signed an agreement with Microsoft to enhance digital transformation and financial systems through AI and cloud services. The partnership will focus on upgrading financial services, improving government connections, and providing technical support. Joint workshops will be held to develop collaboration plans for achieving the Ministry’s objectives.