Fintech Galaxy and ProgressSoft have partnered to promote Open Banking adoption and ensure regulatory compliance across the MENA region. The collaboration enhances financial institutions’ ability to simplify compliance, boost digital transactions, and integrate Open Banking into existing financial systems, driving innovation and scalability in the sector.
Xsolla has expanded its payment options in the MENA region, introducing 11 local payment methods across Egypt, Saudi Arabia, Jordan, and Bahrain. This expansion addresses challenges such as limited payment accessibility and strengthens the company’s ability to support the fast-growing gaming market in the region, enhancing revenue opportunities for developers.
F1Soft, Nepal’s leading fintech company, celebrates its 21st anniversary and announces a leadership transition, with Siddhant Thakuri becoming the new President. F1Soft has been a pioneer in digital financial solutions, including mobile banking and digital wallets. Thakuri aims to accelerate the company’s next phase of growth and innovation.
Mastercard has partnered with Mashreq to launch a digital bank in Pakistan, aiming to drive digital payment adoption, financial inclusion, and economic growth. This collaboration will enhance service delivery, improve security, and support the development of Pakistan’s digital financial ecosystem. The partnership aligns with Pakistan’s Vision 2025 transformation goals.
PayTabs Group has acquired a majority stake in PayTabs Egypt, expanding its digital payment solutions in the country. The acquisition will enhance PayTabs’ ability to support local businesses, financial inclusion, and Egypt’s transition to a cashless society, while continuing to strengthen its position as a regional leader in digital payments.
Bangladesh’s mobile financial services (MFS) reached a record-breaking Tk 1.64 trillion in transactions in December 2024. The country’s total mobile banking transactions for 2024 were Tk 17.37 trillion, marking a 28.42% increase compared to 2023. MFS accounts also grew significantly, reaching 238.6 million by December 2024.
Sadad has partnered with Mastercard to introduce a digital payment gateway in Qatar, powered by Mastercard Gateway. This collaboration enables merchants to offer secure and seamless transactions, enhancing customer experiences and reducing fraud. The platform supports over 30 payment methods, empowering local businesses with advanced payment solutions.
Aani, the UAE’s central bank-backed instant payment platform, has enrolled 1.5 million users and is on track to drive further digital payments adoption. The platform facilitates real-time transfers via mobile numbers, emails, and QR codes, with plans for expanded features like QR payments for businesses, international remittances, and direct debits.
Kuwait International Bank (KIB) has launched “Fast Transfer,” a new international remittance service in collaboration with Visa. Available through KIB’s mobile banking app, the service offers instant, transparent, and fee-free transfers to 40 international destinations. This service enhances KIB’s position as a leader in digital banking innovation in Kuwait.
Basata has increased its stake in MadfoatCom to 25%, reinforcing its role in advancing digital payments and financial inclusion in Jordan. This collaboration, alongside Jordan Kuwait Bank and the Social Security Investment Fund, will drive innovative payment solutions for businesses and consumers, focusing on SMEs.
